OneAscent Financial Services LLC Boosts Stock Position in Norfolk Southern Co. (NYSE:NSC)

OneAscent Financial Services LLC raised its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 156.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,443 shares of the railroad operator's stock after purchasing an additional 1,489 shares during the period. OneAscent Financial Services LLC's holdings in Norfolk Southern were worth $573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. United Bank raised its stake in Norfolk Southern by 2.4% during the third quarter. United Bank now owns 8,875 shares of the railroad operator's stock worth $2,205,000 after acquiring an additional 204 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Norfolk Southern during the 3rd quarter worth approximately $1,346,000. Hilltop Holdings Inc. lifted its stake in Norfolk Southern by 34.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 2,830 shares of the railroad operator's stock valued at $703,000 after purchasing an additional 724 shares during the last quarter. Investment Management Corp of Ontario grew its stake in shares of Norfolk Southern by 47.5% during the third quarter. Investment Management Corp of Ontario now owns 7,457 shares of the railroad operator's stock worth $1,853,000 after buying an additional 2,400 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the third quarter worth $30,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Up 2.1 %

NYSE:NSC traded up $4.31 on Tuesday, hitting $212.36. The stock had a trading volume of 348,519 shares, compared to its average volume of 1,227,529. Norfolk Southern Co. has a 1 year low of $201.63 and a 1 year high of $277.60. The firm's fifty day simple moving average is $241.91 and its two-hundred day simple moving average is $248.04. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a market cap of $52.36 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30.

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Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 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%. Analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.54%. Norfolk Southern's payout ratio is currently 46.71%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Loop Capital downgraded Norfolk Southern from a "buy" rating to a "hold" rating and lowered their price objective for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Susquehanna cut their price target on shares of Norfolk Southern from $265.00 to $260.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Finally, Robert W. Baird lifted their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $272.74.

Insider Buying and Selling

In other news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition 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 corporate 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.