Spire Wealth Management Boosts Holdings in Norfolk Southern Co. (NYSE:NSC)

Spire Wealth Management increased its holdings in Norfolk Southern Co. (NYSE:NSC) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,641 shares of the railroad operator’s stock after purchasing an additional 1,062 shares during the period. Spire Wealth Management’s holdings in Norfolk Southern were worth $1,559,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Norfolk Southern by 4.2% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,529 shares of the railroad operator’s stock valued at $1,532,000 after purchasing an additional 261 shares during the last quarter. Everett Harris & Co. CA grew its position in Norfolk Southern by 4.8% in the 4th quarter. Everett Harris & Co. CA now owns 1,252 shares of the railroad operator’s stock valued at $294,000 after acquiring an additional 57 shares during the last quarter. Ausbil Investment Management Ltd bought a new position in shares of Norfolk Southern during the 4th quarter worth $4,703,000. Austin Private Wealth LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth $220,000. Finally, Caprock Group LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth $1,796,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Norfolk Southern Stock Down 2.0 %

Shares of NSC opened at $250.13 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock’s 50 day moving average is $248.95 and its two-hundred day moving average is $249.15. The firm has a market cap of $56.59 billion, a P/E ratio of 21.64, a PEG ratio of 2.35 and a beta of 1.35.

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 return on equity of 20.04% and a net margin of 21.63%. Analysts predict that Norfolk Southern Co. will post 13.07 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.16%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NSC shares. Bank of America upped their price objective on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI reduced their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Jefferies Financial Group raised their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Robert W. Baird raised their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock 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.