Redmond Asset Management LLC Raises Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Redmond Asset Management LLC boosted its position in Norfolk Southern Co. (NYSE:NSC) by 1,655.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,399 shares of the railroad operator’s stock after buying an additional 25,838 shares during the quarter. Norfolk Southern makes up approximately 1.6% of Redmond Asset Management LLC’s portfolio, making the stock its 13th biggest position. Redmond Asset Management LLC’s holdings in Norfolk Southern were worth $6,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NSC. Mizuho Securities USA LLC raised its holdings in shares of Norfolk Southern by 18,831.2% during 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 in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares during the last quarter. FMR LLC raised its position in shares of Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after purchasing an additional 881,415 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter worth about $207,830,000. Finally, Holocene Advisors LP purchased a new position in shares of Norfolk Southern in the 3rd quarter worth about $122,798,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.6 %

NYSE:NSC opened at $247.84 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. 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 stock has a market cap of $56.12 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.31 and a beta of 1.35. The stock has a 50-day simple moving average of $245.46 and a 200-day simple moving average of $250.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Robert W. Baird boosted 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. Wells Fargo & Company lowered their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Citigroup upped their price objective on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One research 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, Norfolk Southern has an average rating of “Moderate Buy” and an average target price of $276.11.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% 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 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.