Essex Financial Services Inc. Purchases 426 Shares of Norfolk Southern Co. (NYSE:NSC)

Essex Financial Services Inc. increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,660 shares of the railroad operator’s stock after purchasing an additional 426 shares during the period. Essex Financial Services Inc.’s holdings in Norfolk Southern were worth $1,094,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NSC. Sapient Capital LLC raised its holdings in Norfolk Southern by 2.5% during the fourth quarter. Sapient Capital LLC now owns 3,189 shares of the railroad operator’s stock valued at $748,000 after acquiring an additional 77 shares during the period. Pineridge Advisors LLC grew its position in shares of Norfolk Southern by 781.3% during the fourth quarter. Pineridge Advisors LLC now owns 141 shares of the railroad operator’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Soltis Investment Advisors LLC raised its stake in Norfolk Southern by 4.2% during the 4th quarter. Soltis Investment Advisors LLC now owns 2,160 shares of the railroad operator’s stock valued at $507,000 after purchasing an additional 87 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in Norfolk Southern in the 4th quarter worth approximately $66,000. Finally, Savant Capital LLC boosted its stake in Norfolk Southern by 2.6% in the 4th quarter. Savant Capital LLC now owns 10,239 shares of the railroad operator’s stock worth $2,403,000 after purchasing an additional 257 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NSC. Susquehanna reduced 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 report on Wednesday, January 8th. Barclays lifted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. UBS Group increased their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stephens lifted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, TD Cowen boosted their target price on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued 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.

Insider Buying and Selling

In related news, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 350 shares of the stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of 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 disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Stock Up 1.2 %

NYSE NSC opened at $256.53 on Wednesday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The firm has a market capitalization of $58.04 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.32 and a beta of 1.35. 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 has a fifty day moving average of $246.13 and a two-hundred day moving average of $250.24.

Norfolk Southern (NYSE:NSC) last released 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 net margin of 21.63% and a return on equity of 20.04%. On average, analysts predict that Norfolk Southern Co. will post 13.02 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be issued a $1.35 dividend. The ex-dividend date is Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.11%. Norfolk Southern’s payout ratio is 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.