SVB Wealth LLC Buys Shares of 2,659 Norfolk Southern Co. (NYSE:NSC)

SVB Wealth LLC bought a new stake in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,659 shares of the railroad operator’s stock, valued at approximately $624,000.

Several other large investors also recently bought and sold shares of the company. Raab & Moskowitz Asset Management LLC grew its holdings in Norfolk Southern by 2.4% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after purchasing an additional 41 shares during the last quarter. Archer Investment Corp increased its stake in shares of Norfolk Southern by 2.3% during the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after purchasing an additional 43 shares in the last quarter. Albert D Mason Inc. increased its stake in shares of Norfolk Southern by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after purchasing an additional 46 shares in the last quarter. Maia Wealth LLC increased its stake in shares of Norfolk Southern by 4.7% during the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock worth $264,000 after purchasing an additional 47 shares in the last quarter. Finally, Signal Advisors Wealth LLC increased its stake in shares of Norfolk Southern by 5.4% during the 4th quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock worth $225,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average price 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NSC shares. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Citigroup boosted their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.11.

Norfolk Southern Price Performance

NSC stock opened at $244.90 on Tuesday. The stock has a 50-day moving average price of $246.25 and a two-hundred day moving average price of $250.94. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The company has a market cap of $55.45 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

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 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%. As a group, research analysts predict that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is currently 46.71%.

Norfolk Southern 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.