Ellis Investment Partners LLC Has $312,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Ellis Investment Partners LLC lowered its holdings in Norfolk Southern Co. (NYSE:NSC) by 7.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,329 shares of the railroad operator’s stock after selling 105 shares during the quarter. Ellis Investment Partners LLC’s holdings in Norfolk Southern were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NSC. Mizuho Securities USA LLC lifted its position in shares of Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after acquiring an additional 3,280,579 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after acquiring an additional 889,925 shares during the period. FMR LLC lifted its position in shares of Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after acquiring an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $207,830,000. Finally, Holocene Advisors LP bought a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $122,798,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.5 %

NYSE NSC opened at $255.90 on Monday. The stock has a fifty day moving average of $245.35 and a 200-day moving average of $250.44. The stock has a market capitalization of $57.89 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 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.

Norfolk Southern (NYSE:NSC) last released its earnings results 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%. On average, equities research analysts forecast that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Dividend Announcement

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 paid a $1.35 dividend. The ex-dividend date is Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.11%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup raised their price objective on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company cut their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Barclays raised their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Finally, Benchmark restated a “buy” rating and set a $285.00 target price 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 assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.11.

Insider Activity

In related news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost 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 in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.