Norfolk Southern Co. (NYSE:NSC) Holdings Boosted by Avestar Capital LLC

Avestar Capital LLC grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,068 shares of the railroad operator’s stock after purchasing an additional 69 shares during the period. Avestar Capital LLC’s holdings in Norfolk Southern were worth $251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in Norfolk Southern in the 3rd quarter worth about $25,000. Financial Life Planners acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new stake in shares of Norfolk Southern in the fourth quarter worth approximately $27,000. Morse Asset Management Inc purchased a new position in Norfolk Southern during the third quarter valued at approximately $30,000. Finally, Coastline Trust Co acquired a new position in Norfolk Southern in the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NSC opened at $255.90 on Friday. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. 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 firm has a market capitalization of $57.89 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. The stock’s 50 day moving average price is $245.35 and its two-hundred day moving average price is $250.44.

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

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada boosted their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Stephens raised their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $276.11.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now directly owns 2,487 shares in the company, valued at approximately $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. Corporate 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.