Atria Investments Inc Grows Position in Norfolk Southern Co. (NYSE:NSC)

Atria Investments Inc boosted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 9.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,475 shares of the railroad operator’s stock after purchasing an additional 1,829 shares during the period. Atria Investments Inc’s holdings in Norfolk Southern were worth $4,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Life Planners purchased a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new position in Norfolk Southern during the 4th quarter valued at about $27,000. Morse Asset Management Inc purchased a new position in Norfolk Southern during the 3rd quarter valued at about $30,000. Finally, Coastline Trust Co purchased a new position in Norfolk Southern during the 3rd quarter valued at about $32,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gilbert H. Lamphere acquired 607 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sameh Fahmy acquired 350 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % 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.

Norfolk Southern Stock Up 2.4 %

NSC stock opened at $243.89 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company’s 50 day moving average is $246.51 and its two-hundred day moving average is $250.78. The stock has a market cap of $55.22 billion, a P/E ratio of 21.10, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 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%. Research analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on NSC shares. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Susquehanna reduced their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird increased their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Citigroup increased their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada increased their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $276.95.

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.