Pineridge Advisors LLC Purchases 125 Shares of Norfolk Southern Co. (NYSE:NSC)

Pineridge Advisors LLC raised its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 781.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141 shares of the railroad operator’s stock after acquiring an additional 125 shares during the period. Pineridge Advisors LLC’s holdings in Norfolk Southern were worth $33,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NSC. Atomi Financial Group Inc. bought a new position in shares of Norfolk Southern during the 3rd quarter valued at $214,000. CWM LLC increased its holdings in Norfolk Southern by 17.0% during the 3rd quarter. CWM LLC now owns 8,622 shares of the railroad operator’s stock valued at $2,142,000 after purchasing an additional 1,254 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in Norfolk Southern by 291.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,218 shares of the railroad operator’s stock valued at $551,000 after purchasing an additional 1,651 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Norfolk Southern by 11.3% in the 3rd quarter. Ritholtz Wealth Management now owns 6,726 shares of the railroad operator’s stock worth $1,671,000 after buying an additional 685 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Norfolk Southern during the third quarter valued at approximately $144,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $253.63 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 1 year low of $206.71 and a 1 year high of $277.60. The firm has a fifty day moving average price of $246.51 and a 200-day moving average price of $250.03. The stock has a market cap of $57.38 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) 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%. Equities analysts anticipate that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Insider Activity

In other news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NSC shares. Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and cut their price objective for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Susquehanna decreased their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Stephens upped their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, UBS Group raised their price objective on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

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.