ABC Arbitrage SA Acquires New Position in Norfolk Southern Co. (NYSE:NSC)

ABC Arbitrage SA purchased a new stake in Norfolk Southern Co. (NYSE:NSC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,187 shares of the railroad operator's stock, valued at approximately $2,860,000.

A number of other hedge funds have also recently bought and sold shares of the business. Highline Wealth Partners LLC acquired a new position in Norfolk Southern during the 3rd quarter worth $25,000. Financial Life Planners bought a new position in shares of Norfolk Southern during the fourth quarter worth about $27,000. Keystone Financial Group Inc. bought a new stake in Norfolk Southern in the fourth quarter valued at about $27,000. Morse Asset Management Inc acquired a new stake in Norfolk Southern during the third quarter valued at approximately $30,000. Finally, Coastline Trust Co bought a new position in Norfolk Southern during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere acquired 607 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available at 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 purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now 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 disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NSC shares. Stephens boosted their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. TD Cowen increased their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Bank of America lifted their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $276.11.

Norfolk Southern Price Performance

Norfolk Southern stock traded down $9.47 during mid-day trading on Wednesday, hitting $248.96. The company's stock had a trading volume of 2,440,964 shares, compared to its average volume of 1,209,324. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The stock's fifty day moving average price is $245.37 and its two-hundred day moving average price is $250.62. The stock has a market capitalization of $56.37 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.37 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Research analysts forecast that Norfolk Southern Co. will post 13.02 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, February 7th. Norfolk Southern's payout ratio is 46.71%.

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.