FourThought Financial Partners LLC Buys Shares of 1,000 Norfolk Southern Co. (NYSE:NSC)

FourThought Financial Partners LLC purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,000 shares of the railroad operator’s stock, valued at approximately $235,000.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Norfolk Southern by 3.6% during the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after purchasing an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after buying an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after buying an additional 3,621 shares during the period. Caprock Group LLC acquired a new position in Norfolk Southern in the 4th quarter valued at $1,796,000. Finally, Grandview Asset Management LLC bought a new position in Norfolk Southern in the 4th quarter worth $918,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $241.77 on Thursday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. 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 firm has a market cap of $54.74 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The firm’s 50-day simple moving average is $245.60 and its 200-day simple moving average is $250.77.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data 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%. As a group, research analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada increased their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Susquehanna lowered their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus price target of $276.11.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

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.