35,205 Shares in Norfolk Southern Co. (NYSE:NSC) Bought by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC acquired a new position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 35,205 shares of the railroad operator's stock, valued at approximately $8,263,000.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp grew its position in Norfolk Southern by 2.1% during the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator's stock worth $2,318,716,000 after purchasing an additional 196,249 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Norfolk Southern by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator's stock worth $1,133,828,000 after buying an additional 62,186 shares during the period. EdgePoint Investment Group Inc. grew its holdings in shares of Norfolk Southern by 2.7% during the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator's stock valued at $967,340,000 after buying an additional 103,281 shares in the last quarter. Mizuho Securities USA LLC raised its position in Norfolk Southern by 18,831.2% during the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock valued at $819,553,000 after buying an additional 3,280,579 shares during the period. Finally, FMR LLC lifted its stake in Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock worth $671,532,000 after acquiring an additional 881,415 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction dated Friday, January 31st. The shares were bought at an average price 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 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 the SEC website. Also, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The stock was 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 of the company's stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Citigroup upped their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Evercore ISI dropped their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Finally, Benchmark reissued a "buy" rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $276.11.

Norfolk Southern Stock Down 3.7 %

Shares of Norfolk Southern stock traded down $9.47 during trading on Wednesday, reaching $248.96. The stock had a trading volume of 2,440,964 shares, compared to its average volume of 1,209,324. 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 company has a market capitalization of $56.37 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.37 and a beta of 1.35. The stock has a fifty day moving average price of $245.37 and a two-hundred day moving average price of $250.62. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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%. Sell-side analysts predict that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared 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. This represents a $5.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern's dividend payout ratio is 46.71%.

Norfolk Southern Company 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.