Bay Capital Advisors LLC Buys Shares of 1,919 Norfolk Southern Co. (NYSE:NSC)

Bay Capital Advisors LLC purchased a new position in shares of 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 purchased 1,919 shares of the railroad operator’s stock, valued at approximately $450,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Financial Life Planners purchased a new stake in shares of Norfolk Southern during the fourth quarter worth $27,000. Keystone Financial Group Inc. acquired a new position in Norfolk Southern during the 4th quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern during the 4th quarter worth about $27,000. Vision Financial Markets LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at about $28,000. Finally, Atlantic Private Wealth LLC purchased a new position in shares of Norfolk Southern in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NSC. Susquehanna dropped their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 price target for the company. Robert W. Baird increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, 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 report 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.63.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Norfolk Southern Trading Up 1.9 %

Shares of NSC opened at $236.11 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock has a market cap of $53.46 billion, a PE ratio of 20.42, a P/E/G ratio of 2.31 and a beta of 1.35. The stock’s 50-day moving average is $246.01 and its two-hundred day moving average is $249.63.

Norfolk Southern (NYSE:NSC) last released its quarterly 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 net margin of 21.63% and a return on equity of 20.04%. Equities analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.29%. 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.