Millstone Evans Group LLC Acquires New Holdings in Norfolk Southern Co. (NYSE:NSC)

Millstone Evans Group LLC bought a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,383 shares of the railroad operator’s stock, valued at approximately $794,000.

A number of other institutional investors have also made changes to their positions in NSC. Financial Life Planners acquired a new stake in Norfolk Southern in the 4th quarter valued at approximately $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern during the fourth quarter worth $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $27,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at $30,000. Finally, Vision Financial Markets LLC purchased a new position in Norfolk Southern during the 4th quarter valued at about $28,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Down 0.7 %

Shares of Norfolk Southern stock opened at $231.84 on Friday. The company has a fifty day simple moving average of $246.04 and a 200-day simple moving average of $249.85. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. 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 stock has a market cap of $52.50 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Benchmark reiterated a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. One investment 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. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus price target of $276.63.

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.