Spinnaker Trust Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Spinnaker Trust purchased a new stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,740 shares of the railroad operator's stock, valued at approximately $408,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth $25,000. Financial Life Planners purchased a new stake in Norfolk Southern during the 4th quarter worth about $27,000. Keystone Financial Group Inc. bought a new position in Norfolk Southern in the 4th quarter worth about $27,000. Morse Asset Management Inc purchased a new position in Norfolk Southern during the 3rd quarter valued at about $30,000. Finally, Coastline Trust Co bought a new stake in shares of Norfolk Southern during the third quarter valued at about $32,000. 75.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert H. Lamphere bought 607 shares of the company's stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NSC. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Robert W. Baird increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Barclays boosted their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Loop Capital cut Norfolk Southern from a "buy" rating to a "hold" rating and lowered their price target for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, Susquehanna cut their price objective on Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Norfolk Southern has an average rating of "Moderate Buy" and an average target price of $276.11.

Norfolk Southern Trading Down 3.7 %

Shares of NYSE:NSC traded down $9.47 on Wednesday, reaching $248.96. 2,435,924 shares of the company traded hands, compared to its average volume of 1,209,166. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The business's 50-day simple moving average is $245.37 and its 200 day simple moving average is $250.62. The stock has a market capitalization of $56.37 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.37 and a beta of 1.35.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced 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%. As a group, equities analysts anticipate that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.17%. 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.