Spire Wealth Management Buys 1,062 Shares of Norfolk Southern Co. (NYSE:NSC)

Spire Wealth Management lifted its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 19.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,641 shares of the railroad operator's stock after purchasing an additional 1,062 shares during the period. Spire Wealth Management's holdings in Norfolk Southern were worth $1,559,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in shares of Norfolk Southern during the third quarter valued at approximately $25,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth about $30,000. Coastline Trust Co bought a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $32,000. Capital Performance Advisors LLP bought a new position in Norfolk Southern in the third quarter worth about $33,000. Finally, Versant Capital Management Inc lifted its holdings in Norfolk Southern by 54.4% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the railroad operator's stock worth $45,000 after buying an additional 68 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NSC traded down $1.18 during mid-day trading on Thursday, reaching $251.33. 830,064 shares of the company traded hands, compared to its average volume of 1,237,032. The stock has a market capitalization of $56.86 billion, a P/E ratio of 21.74, a P/E/G ratio of 2.35 and a beta of 1.35. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company's fifty day moving average price is $247.53 and its 200-day moving average price is $249.49.

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 for the quarter, beating 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%. On average, sell-side analysts expect that Norfolk Southern Co. will post 13.07 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. Norfolk Southern's dividend payout ratio is currently 46.71%.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 350 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the company's stock in a transaction on Friday, January 31st. The stock was purchased at an average price 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 of the company's stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Benchmark reissued a "buy" rating and issued a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Robert W. Baird boosted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Susquehanna decreased their price target on shares of Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, Loop Capital cut shares of Norfolk Southern from a "buy" rating to a "hold" rating and cut their price objective for the stock from $289.00 to $256.00 in a report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $276.11.

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.