Asset Dedication LLC Boosts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Asset Dedication LLC grew its stake in Norfolk Southern Co. (NYSE:NSC) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,230 shares of the railroad operator’s stock after purchasing an additional 125 shares during the period. Asset Dedication LLC’s holdings in Norfolk Southern were worth $289,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in Norfolk Southern during the 3rd quarter worth $25,000. Morse Asset Management Inc purchased a new position in Norfolk Southern during the third quarter worth about $30,000. Coastline Trust Co acquired a new stake in Norfolk Southern in the third quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $33,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NSC shares. Royal Bank of Canada upped their price objective on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen increased their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Benchmark boosted their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group increased their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup boosted their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $277.39.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $256.78 on Thursday. The stock has a market capitalization of $58.09 billion, a P/E ratio of 24.11, a P/E/G ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The firm’s 50-day moving average is $249.41 and its two-hundred day moving average is $248.64.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. Equities analysts predict that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.10%. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Norfolk Southern Company Profile

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.