Modern Wealth Management LLC Acquires 116 Shares of Norfolk Southern Co. (NYSE:NSC)

Modern Wealth Management LLC raised its stake in Norfolk Southern Co. (NYSE:NSC) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,086 shares of the railroad operator’s stock after purchasing an additional 116 shares during the period. Modern Wealth Management LLC’s holdings in Norfolk Southern were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NSC. United Bank increased its position in Norfolk Southern by 2.4% during the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after acquiring an additional 204 shares during the period. FMR LLC lifted its stake in Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of Norfolk Southern by 40.9% in the 3rd quarter. Townsquare Capital LLC now owns 5,059 shares of the railroad operator’s stock valued at $1,257,000 after acquiring an additional 1,469 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Norfolk Southern by 7.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,979 shares of the railroad operator’s stock valued at $11,177,000 after purchasing an additional 3,096 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Norfolk Southern by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,023,725 shares of the railroad operator’s stock worth $254,396,000 after buying an additional 66,965 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

NSC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Thursday. Bank of America reduced their price target on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research report on Tuesday. Stephens boosted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Benchmark restated a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $274.84.

Norfolk Southern Stock Down 2.0 %

Norfolk Southern stock opened at $230.41 on Friday. The firm has a market capitalization of $52.17 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a 50 day simple moving average of $245.28 and a 200 day simple moving average of $249.14.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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 21.63% and a return on equity of 20.04%. On average, analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

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.