Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,929 shares of the railroad operator’s stock after buying an additional 194 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Norfolk Southern were worth $2,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NSC. State Street Corp increased its position in Norfolk Southern by 2.1% during the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after purchasing an additional 196,249 shares in the last quarter. Geode Capital Management LLC increased its position in Norfolk Southern by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after purchasing an additional 62,186 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in 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 in the last quarter. Mizuho Securities USA LLC increased its position in 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 in the last quarter. Finally, FMR LLC increased its position in 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 in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the transaction, 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 disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of recent research reports. Susquehanna dropped their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Citigroup lifted their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Barclays lifted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Stock Performance

Shares of NSC opened at $247.84 on Friday. The business’s 50 day moving average is $245.46 and its two-hundred day moving average is $250.66. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The firm has a market cap of $56.12 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.30 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 (NYSE:NSC) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Analysts forecast that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

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.