ST. Nicholas Private Asset Management Inc. Makes New $2.47 Million Investment in Norfolk Southern Co. (NYSE:NSC)

ST. Nicholas Private Asset Management Inc. bought a new position in shares of Norfolk Southern Co. (NYSE:NSC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,510 shares of the railroad operator’s stock, valued at approximately $2,467,000. Norfolk Southern comprises about 2.2% of ST. Nicholas Private Asset Management Inc.’s holdings, making the stock its 17th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of 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 holdings in 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 valued at $3,556,000 after buying an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Norfolk Southern by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after buying an additional 3,621 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after buying an additional 889,925 shares during the period. Finally, Caprock Group LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $1,796,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $247.84 on Friday. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock has a market capitalization of $56.12 billion, a P/E ratio of 21.44, a PEG ratio of 2.31 and a beta of 1.35. 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 firm’s 50 day moving average is $245.46 and its 200 day moving average is $250.71.

Norfolk Southern (NYSE:NSC) last posted 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 return on equity of 20.04% and a net margin of 21.63%. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Barclays upped their price objective 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. Wells Fargo & Company dropped their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada boosted their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Stephens boosted their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

Insider Activity

In related news, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly 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 filing with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares of the company’s stock, valued at approximately $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. Company 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.