Sagespring Wealth Partners LLC Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Sagespring Wealth Partners LLC acquired a new position in Norfolk Southern Co. (NYSE:NSC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,961 shares of the railroad operator's stock, valued at approximately $695,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Norfolk Southern by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,089,164 shares of the railroad operator's stock worth $4,714,927,000 after buying an additional 139,485 shares during the last quarter. Geode Capital Management LLC raised its stake in Norfolk Southern by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after purchasing an additional 113,648 shares during the last quarter. Boston Partners boosted its holdings in Norfolk Southern by 16.9% in the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock valued at $945,385,000 after purchasing an additional 580,293 shares during the period. FMR LLC grew its position in Norfolk Southern by 13.8% in the 4th quarter. FMR LLC now owns 3,073,933 shares of the railroad operator's stock worth $721,452,000 after purchasing an additional 371,589 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Norfolk Southern during the 4th quarter worth about $547,575,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Insider Activity

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, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NSC. Robert W. Baird lifted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Benchmark restated a "buy" rating and issued a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. Loop Capital cut shares of Norfolk Southern from a "buy" rating to a "hold" rating and dropped their price objective for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Stephens lifted their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company cut their price target 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.79.

Norfolk Southern Price Performance

NSC traded up $5.96 during midday trading on Friday, hitting $219.99. The company had a trading volume of 1,362,718 shares, compared to its average volume of 1,253,317. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60. The firm's 50-day simple moving average is $233.78 and its 200-day simple moving average is $245.74. 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 company has a market capitalization of $54.24 billion, a PE ratio of 19.03, a P/E/G ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its 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 net margin of 21.63% and a return on equity of 20.04%. Equities research analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders 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 dividend yield of 2.45%. Norfolk Southern's payout ratio is currently 46.71%.

Norfolk Southern Profile

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.