Grandview Asset Management LLC Takes Position in Norfolk Southern Co. (NYSE:NSC)

Grandview Asset Management LLC purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,912 shares of the railroad operator’s stock, valued at approximately $918,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of Norfolk Southern during the third quarter worth $25,000. Morse Asset Management Inc bought a new stake in Norfolk Southern during the 3rd quarter worth about $30,000. HWG Holdings LP acquired a new stake in Norfolk Southern in the 2nd quarter valued at about $31,000. Coastline Trust Co bought a new position in shares of Norfolk Southern in the third quarter worth about $32,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern during the third quarter worth approximately $33,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $237.48 on Tuesday. The stock’s fifty day simple moving average is $253.07 and its 200 day simple moving average is $246.06. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $53.73 billion, a PE ratio of 22.30, a PEG ratio of 2.34 and a beta of 1.34. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last released 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 return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the firm posted $2.65 earnings per share. Norfolk Southern’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada upped their price target on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Barclays lifted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, TD Cowen upped their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock 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.