Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Saybrook Capital NC

Saybrook Capital NC grew its stake in Norfolk Southern Co. (NYSE:NSC) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,357 shares of the railroad operator’s stock after purchasing an additional 310 shares during the period. Norfolk Southern comprises 2.3% of Saybrook Capital NC’s investment portfolio, making the stock its 13th biggest position. Saybrook Capital NC’s holdings in Norfolk Southern were worth $8,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp raised its holdings 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 worth $2,318,716,000 after purchasing an additional 196,249 shares during the period. 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 worth $1,133,828,000 after purchasing an additional 62,186 shares during the period. EdgePoint Investment Group Inc. raised its holdings in Norfolk Southern by 2.7% in 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 period. Mizuho Securities USA LLC raised its holdings in Norfolk Southern by 18,831.2% in 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 period. Finally, FMR LLC raised its holdings in Norfolk Southern by 48.4% in 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 period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC stock opened at $243.89 on Friday. The business has a fifty day moving average of $246.51 and a two-hundred day moving average of $250.85. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a market cap of $55.22 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.21%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gilbert H. Lamphere bought 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 completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on NSC shares. Susquehanna cut their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Benchmark reiterated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. Wells Fargo & Company cut their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Robert W. Baird boosted their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $276.95.

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.