Asset Dedication LLC Increases Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Asset Dedication LLC boosted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,230 shares of the railroad operator’s stock after purchasing an additional 125 shares during the period. Asset Dedication LLC’s holdings in Norfolk Southern were worth $289,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mizuho Securities USA LLC raised its position in Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after purchasing an additional 3,280,579 shares during the period. Pathway Financial Advisers LLC raised its holdings in Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after buying an additional 889,925 shares during the period. FMR LLC lifted its position in Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after buying an additional 881,415 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Norfolk Southern during the third quarter valued at about $207,830,000. Finally, Holocene Advisors LP purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $122,798,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

NSC has been the subject of several research reports. Bank of America lifted their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen raised their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.39.

Norfolk Southern Trading Up 1.8 %

NSC opened at $256.78 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a market cap of $58.09 billion, a P/E ratio of 24.11, a PEG ratio of 2.29 and a beta of 1.34. The business’s 50-day simple moving average is $249.41 and its 200-day simple moving average is $248.64.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. As a group, equities research analysts expect that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.10%. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares of the company’s stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.