Bay Capital Advisors LLC Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Bay Capital Advisors LLC acquired a new stake in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,919 shares of the railroad operator’s stock, valued at approximately $450,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. United Bank boosted its position in Norfolk Southern by 2.4% in the 3rd quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after purchasing an additional 204 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Norfolk Southern by 5.6% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 33,359 shares of the railroad operator’s stock valued at $8,290,000 after buying an additional 1,783 shares during the period. Meridian Wealth Management LLC purchased a new position in Norfolk Southern in the third quarter valued at $440,000. Kingsview Wealth Management LLC raised its position in shares of Norfolk Southern by 1.8% in the third quarter. Kingsview Wealth Management LLC now owns 8,718 shares of the railroad operator’s stock worth $2,166,000 after acquiring an additional 155 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of Norfolk Southern by 6.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,985 shares of the railroad operator’s stock worth $493,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $236.11 on Tuesday. The company has a 50-day moving average price of $246.01 and a 200 day moving average price of $249.63. The stock has a market cap of $53.46 billion, a P/E ratio of 20.42, 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. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC) last issued 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%. 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.29%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NSC. Royal Bank of Canada upped their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Susquehanna reduced their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price on the stock. Robert W. Baird upped their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.63.

Norfolk Southern 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.