Sunpointe LLC Purchases 61 Shares of Norfolk Southern Co. (NYSE:NSC)

Sunpointe LLC boosted its position in Norfolk Southern Co. (NYSE:NSC) by 3.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,621 shares of the railroad operator’s stock after acquiring an additional 61 shares during the period. Sunpointe LLC’s holdings in Norfolk Southern were worth $380,000 as of its most recent SEC filing.

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

Norfolk Southern Stock Down 3.7 %

Shares of NSC opened at $248.96 on Thursday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock has a 50 day simple moving average of $245.41 and a two-hundred day simple moving average of $250.61. The firm has a market cap of $56.37 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.37 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating 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 forecast that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors 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 presently 46.71%.

Analyst Ratings Changes

NSC has been the topic of a number of recent research reports. Benchmark reissued a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Susquehanna decreased their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird raised their price target 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. Finally, Barclays boosted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

Insiders Place Their Bets

In other news, Director Sameh Fahmy acquired 350 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now owns 2,487 shares in the company, valued at $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.

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.