Sierra Summit Advisors LLC Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Sierra Summit Advisors LLC acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,348 shares of the railroad operator's stock, valued at approximately $1,255,000.

Several other hedge funds have also recently modified their holdings of the stock. Financial Life Planners bought a new stake in Norfolk Southern in the 4th quarter worth approximately $27,000. Keystone Financial Group Inc. bought a new stake in Norfolk Southern in the fourth quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern during the fourth quarter valued at $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern during the fourth quarter valued at $28,000. Finally, Atlantic Private Wealth LLC purchased a new position in shares of Norfolk Southern in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the firm's stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Norfolk Southern Stock Up 1.1 %

Shares of NYSE:NSC traded up $2.48 on Friday, reaching $217.94. The company had a trading volume of 1,401,075 shares, compared to its average volume of 1,248,152. The firm has a market capitalization of $53.73 billion, a PE ratio of 18.85, a PEG ratio of 2.31 and a beta of 1.30. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 52-week low of $201.63 and a 52-week high of $277.60. The firm's 50 day simple moving average is $237.20 and its 200-day simple moving average is $246.72.

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

Norfolk Southern Dividend Announcement

The company also recently announced 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 was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.48%. Norfolk Southern's payout ratio is 46.71%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NSC. Royal Bank of Canada upped their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Loop Capital downgraded Norfolk Southern from a "buy" rating to a "hold" rating and decreased their price objective for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Benchmark reiterated a "buy" rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Wells Fargo & Company decreased their price target on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Citigroup dropped their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $268.68.

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.