Moment Partners LLC Purchases New Position in Norfolk Southern Co. (NYSE:NSC)

Moment Partners LLC acquired a new stake in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,540 shares of the railroad operator’s stock, valued at approximately $361,000.

Other institutional investors have also added to or reduced their stakes in the company. United Bank boosted its position in shares of Norfolk Southern by 2.4% during the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock valued at $2,205,000 after buying an additional 204 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Norfolk Southern by 23.1% during the 3rd quarter. Summit Trail Advisors LLC now owns 1,579 shares of the railroad operator’s stock valued at $392,000 after acquiring an additional 296 shares during the period. DRW Securities LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $605,000. Associated Banc Corp bought a new stake in shares of Norfolk Southern in the third quarter worth approximately $221,000. Finally, Qsemble Capital Management LP purchased a new position in shares of Norfolk Southern during the third quarter valued at approximately $557,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.7 %

Shares of Norfolk Southern stock opened at $235.65 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The company has a fifty day moving average of $245.81 and a 200 day moving average of $249.42. The company has a market capitalization of $53.36 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. 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 2.29%. Norfolk Southern’s dividend payout ratio is 46.71%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Wells Fargo & Company lowered 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. Stephens boosted their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Benchmark reiterated a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.63.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the acquisition, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 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.