Concurrent Investment Advisors LLC Has $2.57 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Concurrent Investment Advisors LLC boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.8% in the fourth quarter, HoldingsChannel reports. The fund owned 10,929 shares of the railroad operator’s stock after buying an additional 194 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Norfolk Southern were worth $2,565,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NSC. Advyzon Investment Management LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter worth about $212,000. Handelsbanken Fonder AB raised its stake in shares of Norfolk Southern by 34.5% during the 4th quarter. Handelsbanken Fonder AB now owns 130,541 shares of the railroad operator’s stock worth $30,638,000 after purchasing an additional 33,460 shares in the last quarter. Sunpointe LLC raised its stake in shares of Norfolk Southern by 3.9% during the 4th quarter. Sunpointe LLC now owns 1,621 shares of the railroad operator’s stock worth $380,000 after purchasing an additional 61 shares in the last quarter. Ieq Capital LLC raised its stake in shares of Norfolk Southern by 8.0% during the 4th quarter. Ieq Capital LLC now owns 11,566 shares of the railroad operator’s stock worth $2,715,000 after purchasing an additional 861 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC raised its stake in shares of Norfolk Southern by 1,805.7% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 39,601 shares of the railroad operator’s stock worth $9,294,000 after purchasing an additional 37,523 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NSC opened at $247.84 on Friday. The firm has a market capitalization of $56.12 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.30 and a beta of 1.35. The stock’s 50 day moving average price is $245.46 and its two-hundred day moving average price is $250.66. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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 13.02 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued 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 payout ratio is presently 46.71%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NSC. Royal Bank of Canada raised their price target on 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 raised 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. Barclays raised their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Susquehanna cut their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Benchmark reissued a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.11.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

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.