bLong Financial LLC Purchases Shares of 1,000 Norfolk Southern Co. (NYSE:NSC)

bLong Financial LLC purchased a new stake in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,000 shares of the railroad operator’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern in the 3rd quarter valued at $25,000. Financial Life Planners acquired a new stake in Norfolk Southern in the 4th quarter valued at $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern in the 4th quarter valued at $27,000. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $30,000. Finally, Coastline Trust Co acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NSC shares. Citigroup boosted their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Stephens boosted their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, UBS Group boosted their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy purchased 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Stock Performance

NYSE NSC opened at $255.90 on Friday. 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 company has a market capitalization of $57.89 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.32 and a beta of 1.35. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The firm has a 50-day moving average price of $245.35 and a two-hundred day moving average price of $250.44.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data 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 net margin of 21.63% and a return on equity of 20.04%. Analysts anticipate that Norfolk Southern Co. will post 13.02 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 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.