Leavell Investment Management Inc. Raises Position in Norfolk Southern Co. (NYSE:NSC)

Leavell Investment Management Inc. boosted its stake in Norfolk Southern Co. (NYSE:NSC) by 0.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,816 shares of the railroad operator’s stock after buying an additional 50 shares during the quarter. Leavell Investment Management Inc.’s holdings in Norfolk Southern were worth $1,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its stake in Norfolk Southern by 2.1% in the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock valued at $2,318,716,000 after buying an additional 196,249 shares in the last quarter. Geode Capital Management LLC raised its holdings in Norfolk Southern by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock valued at $1,133,828,000 after acquiring an additional 62,186 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Norfolk Southern by 2.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock worth $967,340,000 after purchasing an additional 103,281 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Norfolk Southern by 18,831.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after purchasing an additional 3,280,579 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after purchasing an additional 881,415 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Down 1.0 %

Shares of NYSE NSC opened at $253.80 on Thursday. The firm has a market cap of $57.42 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.32 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The business’s 50 day moving average is $245.86 and its two-hundred day moving average is $250.31.

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, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Research analysts predict that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NSC. Bank of America boosted their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays boosted their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Wells Fargo & Company lowered their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Evercore ISI lowered their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Stephens boosted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.