Ieq Capital LLC Acquires 861 Shares of Norfolk Southern Co. (NYSE:NSC)

Ieq Capital LLC raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,566 shares of the railroad operator’s stock after buying an additional 861 shares during the period. Ieq Capital LLC’s holdings in Norfolk Southern were worth $2,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Norfolk Southern by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,314 shares of the railroad operator’s stock worth $2,812,000 after purchasing an additional 511 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Norfolk Southern by 23,037.4% during the third quarter. International Assets Investment Management LLC now owns 349,143 shares of the railroad operator’s stock valued at $86,762,000 after buying an additional 347,634 shares during the last quarter. Dakota Wealth Management grew its holdings in Norfolk Southern by 2.1% during the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after buying an additional 150 shares in the last quarter. Ballentine Partners LLC raised its position in Norfolk Southern by 4.1% in the 3rd quarter. Ballentine Partners LLC now owns 5,276 shares of the railroad operator’s stock valued at $1,311,000 after buying an additional 207 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in Norfolk Southern by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after acquiring an additional 41 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the acquisition, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Down 0.6 %

Shares of NSC opened at $247.84 on Friday. The firm has a market cap of $56.12 billion, a P/E ratio of 21.44, a price-to-earnings-growth 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. 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 business has a 50-day moving average of $245.46 and a 200 day moving average of $250.71.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders 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 annualized dividend and a dividend yield of 2.18%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Analyst Ratings Changes

Several analysts have recently issued reports on NSC shares. Susquehanna reduced their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays upped their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stephens lifted their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Robert W. Baird upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and an average price target of $276.11.

Norfolk Southern 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.