Anchor Investment Management LLC Has $3.34 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Anchor Investment Management LLC lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,217 shares of the railroad operator’s stock after selling 48 shares during the quarter. Anchor Investment Management LLC’s holdings in Norfolk Southern were worth $3,337,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at $27,000. Vision Financial Markets LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter worth $28,000. Finally, Atlantic Private Wealth LLC purchased a new position in shares of Norfolk Southern during the fourth quarter valued at $29,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NSC shares. Stifel Nicolaus reduced their price objective on Norfolk Southern from $265.00 to $247.00 and set a “hold” rating for the company in a research note on Monday. UBS Group decreased their price target on shares of Norfolk Southern from $305.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Susquehanna lowered their price objective on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, Citigroup lowered their price target on shares of Norfolk Southern from $298.00 to $259.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $268.79.

Norfolk Southern Stock Up 1.3 %

NSC opened at $221.06 on Tuesday. The firm has a market cap of $54.50 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The business has a 50 day moving average price of $236.57 and a 200 day moving average price of $246.56. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.