CreativeOne Wealth LLC Takes $357,000 Position in Norfolk Southern Co. (NYSE:NSC)

CreativeOne Wealth LLC purchased a new stake in Norfolk Southern Co. (NYSE:NSC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,523 shares of the railroad operator’s stock, valued at approximately $357,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern in the 3rd quarter valued at $30,000. Wealthquest Corp acquired a new position in Norfolk Southern in the third quarter valued at $216,000. Anchor Investment Management LLC grew its holdings in shares of Norfolk Southern by 1.2% during the third quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator’s stock worth $3,545,000 after purchasing an additional 170 shares during the last quarter. World Investment Advisors LLC increased its position in shares of Norfolk Southern by 10.7% during the third quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator’s stock worth $2,790,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Norfolk Southern by 23.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 56,256 shares of the railroad operator’s stock worth $13,980,000 after purchasing an additional 10,593 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NSC shares. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a research note on Friday, March 7th. They set a “buy” rating and a $293.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Citigroup reduced their price target on shares of Norfolk Southern from $298.00 to $259.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Stephens raised their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $268.79.

Norfolk Southern Stock Up 2.8 %

NSC opened at $219.99 on Friday. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The company has a market cap of $54.24 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.31 and a beta of 1.30. The business’s fifty day moving average is $233.78 and its two-hundred day moving average is $245.73. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal 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 given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

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.