Grandview Asset Management LLC Takes $918,000 Position in Norfolk Southern Co. (NYSE:NSC)

Grandview Asset Management LLC bought a new position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,912 shares of the railroad operator's stock, valued at approximately $918,000.

A number of other institutional investors have also modified their holdings of NSC. Mizuho Securities USA LLC lifted its stake in Norfolk Southern by 18,831.2% in the third 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 raised its stake in shares of Norfolk Southern by 25,181.8% during 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 in the last quarter. FMR LLC boosted its stake in Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock valued at $671,532,000 after acquiring an additional 881,415 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Norfolk Southern during the third quarter worth $207,830,000. Finally, Holocene Advisors LP purchased a new stake in shares of Norfolk Southern during the 3rd quarter valued at $122,798,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NSC. Evercore ISI cut their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, Citigroup increased their price target on Norfolk Southern from $302.00 to $316.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.68.

Norfolk Southern Stock Up 0.6 %

Shares of NSC traded up $1.44 during midday trading on Tuesday, reaching $238.80. The stock had a trading volume of 960,517 shares, compared to its average volume of 956,402. The company's fifty day simple moving average is $253.07 and its two-hundred day simple moving average is $246.06. The company has a market cap of $54.03 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.34 and a beta of 1.34. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the company posted $2.65 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced 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 2.26%. The ex-dividend date was Friday, November 1st. Norfolk Southern's payout ratio is currently 50.70%.

Insider Buying and Selling

In related news, Director Sameh Fahmy bought 350 shares of the company's stock in a transaction dated 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 acquisition, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

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.