Norfolk Southern Co. (NYSE:NSC) Stake Increased by Abound Wealth Management

Abound Wealth Management increased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1,064.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,131 shares of the railroad operator’s stock after buying an additional 1,948 shares during the quarter. Abound Wealth Management’s holdings in Norfolk Southern were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Wedmont Private Capital raised its holdings in shares of Norfolk Southern by 7.2% during the fourth quarter. Wedmont Private Capital now owns 3,597 shares of the railroad operator’s stock worth $842,000 after acquiring an additional 243 shares in the last quarter. Fiduciary Alliance LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $281,000. Czech National Bank increased its holdings in Norfolk Southern by 6.5% in the fourth quarter. Czech National Bank now owns 49,054 shares of the railroad operator’s stock worth $11,513,000 after buying an additional 2,996 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in Norfolk Southern by 14.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,859 shares of the railroad operator’s stock valued at $906,000 after acquiring an additional 474 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Norfolk Southern by 0.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 45,033 shares of the railroad operator’s stock worth $11,191,000 after acquiring an additional 270 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NSC stock traded up $3.54 during mid-day trading on Monday, reaching $237.48. The company’s stock had a trading volume of 557,116 shares, compared to its average volume of 901,970. The firm’s 50-day moving average is $253.27 and its two-hundred day moving average is $245.86. The company has a market cap of $53.73 billion, a P/E ratio of 22.30, a PEG ratio of 2.34 and a beta of 1.34. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. 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 (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the company earned $2.65 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were paid a dividend of $1.35 per share. The ex-dividend date was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.27%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 350 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the transaction, the director now owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of recent research reports. UBS Group upped their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Loop Capital upped their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Stephens restated an “equal weight” rating and issued a $263.00 target price on shares of Norfolk Southern in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI lowered their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

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.