Bryce Point Capital LLC Purchases Shares of 2,150 Norfolk Southern Co. (NYSE:NSC)

Bryce Point Capital LLC purchased a new position in Norfolk Southern Co. (NYSE:NSC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,150 shares of the railroad operator's stock, valued at approximately $505,000.

Several other hedge funds also recently made changes to their positions in NSC. RFG Bristol Wealth Advisors LLC purchased a new position in shares of Norfolk Southern during the fourth quarter worth about $486,000. Groupama Asset Managment grew its holdings in shares of Norfolk Southern by 49.1% during the 4th quarter. Groupama Asset Managment now owns 11,609 shares of the railroad operator's stock valued at $2,711,000 after purchasing an additional 3,821 shares during the last quarter. Trexquant Investment LP purchased a new position in Norfolk Southern in the 4th quarter worth $13,840,000. Geode Capital Management LLC lifted its stake in Norfolk Southern by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock worth $1,098,472,000 after purchasing an additional 113,648 shares during the last quarter. Finally, Tradewinds LLC. bought a new position in shares of Norfolk Southern during the fourth quarter valued at about $268,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 7.6 %

Shares of NYSE NSC traded up $15.75 during trading on Wednesday, hitting $222.09. 3,668,098 shares of the company were exchanged, compared to its average volume of 1,243,802. The firm has a market capitalization of $54.76 billion, a PE ratio of 19.21, a P/E/G ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 12-month low of $201.63 and a 12-month high of $277.60. The company has a fifty day moving average price of $238.59 and a 200-day moving average price of $247.11. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.

Remove Ads

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, equities research analysts expect that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.43%. Norfolk Southern's dividend payout ratio (DPR) is currently 46.71%.

Analysts Set New Price Targets

Several equities analysts have recently commented on NSC shares. Jefferies Financial Group lowered their price objective on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday. Bank of America dropped their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a report on Friday, March 7th. They set a "buy" rating and a $293.00 target price for the company. Benchmark reaffirmed a "buy" rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Susquehanna decreased their price objective on shares of Norfolk Southern from $265.00 to $260.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $268.68.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the company's stock in a transaction on Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.