Lehman & Derafelo Financial Resources LLC bought a new position in shares of Norfolk Southern Corp. (NYSE:NSC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,433 shares of the railroad operator’s stock, valued at approximately $214,000.
Other hedge funds have also modified their holdings of the company. Bruderman Asset Management LLC purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $26,000. Intercontinental Wealth Advisors LLC purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $27,000. Moody National Bank Trust Division purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $31,000. Arlington Partners LLC purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $37,000. Finally, PRW Wealth Management LLC purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $36,000. 73.37% of the stock is owned by institutional investors and hedge funds.
NYSE NSC traded up $1.82 during mid-day trading on Friday, hitting $180.81. The stock had a trading volume of 14,736 shares, compared to its average volume of 1,836,050. Norfolk Southern Corp. has a 52-week low of $127.79 and a 52-week high of $186.91. The company has a market capitalization of $47.97 billion, a P/E ratio of 19.01, a PEG ratio of 1.52 and a beta of 1.43. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.72 and a quick ratio of 0.64.
The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 4th were given a dividend of $0.86 per share. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, February 1st. This represents a $3.44 annualized dividend and a yield of 1.90%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.17%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a research note on Friday, March 8th. ValuEngine downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Royal Bank of Canada downgraded Norfolk Southern from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $180.00 to $178.00 in a research note on Tuesday, February 19th. TD Securities raised their price objective on Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 12th. Finally, BMO Capital Markets raised their price objective on Norfolk Southern to $185.00 and gave the company a “market perform” rating in a research note on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $185.37.
In other Norfolk Southern news, COO Michael Joseph Wheeler sold 4,761 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $180.23, for a total transaction of $858,075.03. Following the completion of the transaction, the chief operating officer now owns 19,724 shares of the company’s stock, valued at $3,554,856.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jason Andrew Zampi sold 519 shares of the firm’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $181.34, for a total value of $94,115.46. The disclosure for this sale can be found here. Company insiders own 0.23% 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. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.
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