GAMMA Investing LLC Takes $314,000 Position in Norfolk Southern Co. (NYSE:NSC)

GAMMA Investing LLC purchased a new position in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,333 shares of the railroad operator’s stock, valued at approximately $314,000.

A number of other institutional investors have also made changes to their positions in the stock. Provence Wealth Management Group bought a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $28,000. Exchange Traded Concepts LLC increased its stake in Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares in the last quarter. Operose Advisors LLC acquired a new stake in Norfolk Southern in the third quarter worth $32,000. Orion Capital Management LLC bought a new position in shares of Norfolk Southern during the third quarter worth $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $32,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $236.14 on Thursday. The stock’s 50 day moving average is $252.34 and its 200-day moving average is $232.12. The company has a market capitalization of $58.14 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 3.34 and a beta of 1.30. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.32 EPS. Equities research analysts expect that Norfolk Southern Co. will post 11.93 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. Norfolk Southern’s dividend payout ratio is presently 67.33%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Benchmark boosted their target price on Norfolk Southern from $250.00 to $277.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group increased their target price on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Sanford C. Bernstein raised shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective on the stock in a research report on Monday, January 22nd. Loop Capital increased their target price on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, TD Cowen boosted their price target on Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.74.

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.