Sargent Investment Group LLC Purchases Shares of 2,094 Norfolk Southern Co. (NYSE:NSC)

Sargent Investment Group LLC purchased a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,094 shares of the railroad operator’s stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. Mizuho Securities USA LLC boosted its position in shares of Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after acquiring an additional 3,280,579 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the period. FMR LLC boosted its position in shares of Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after acquiring an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Norfolk Southern in the third quarter valued at approximately $207,830,000. Finally, Holocene Advisors LP bought a new stake in shares of Norfolk Southern in the third quarter valued at approximately $122,798,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $253.14 on Wednesday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The firm has a market cap of $57.27 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.35 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The business has a fifty day moving average of $248.44 and a 200-day moving average of $249.29.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 research analysts predict that Norfolk Southern Co. will post 13.07 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be given a $1.35 dividend. The ex-dividend date is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.13%. Norfolk Southern’s payout ratio is 46.71%.

Insider Buying and Selling

In related news, Director Sameh Fahmy bought 350 shares of Norfolk Southern 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 acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NSC. Stephens raised their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Wells Fargo & Company reduced their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Barclays raised their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Susquehanna reduced their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada raised their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $276.11.

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.