Pinnacle Financial Partners Inc Buys 69 Shares of Norfolk Southern Co. (NYSE:NSC)

Pinnacle Financial Partners Inc increased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,773 shares of the railroad operator’s stock after acquiring an additional 69 shares during the period. Pinnacle Financial Partners Inc’s holdings in Norfolk Southern were worth $886,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in Norfolk Southern during the third quarter worth about $25,000. Financial Life Planners acquired a new position in Norfolk Southern during the fourth quarter worth approximately $27,000. Keystone Financial Group Inc. acquired a new position in Norfolk Southern during the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust acquired a new position in Norfolk Southern during the fourth quarter worth approximately $27,000. Finally, Morse Asset Management Inc acquired a new position in Norfolk Southern during the third quarter worth approximately $30,000. Institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NSC. Barclays boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Robert W. Baird boosted their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Benchmark reissued a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Citigroup upped their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Stephens upped their target price on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Trading Down 0.6 %

Shares of NSC stock opened at $247.84 on Monday. 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 stock 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. The stock has a 50 day simple moving average of $245.46 and a 200 day simple moving average of $250.78. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

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, 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%. On average, research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is presently 46.71%.

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.