Davis Investment Partners LLC Invests $306,000 in Norfolk Southern Co. (NYSE:NSC)

Davis Investment Partners LLC purchased a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,306 shares of the railroad operator’s stock, valued at approximately $306,000.

Other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in Norfolk Southern in the third quarter valued at approximately $25,000. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the 3rd quarter valued at $30,000. HWG Holdings LP acquired a new position in Norfolk Southern during the 2nd quarter worth approximately $31,000. Coastline Trust Co bought a new stake in Norfolk Southern during the 3rd quarter valued at $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Norfolk Southern in the 3rd quarter worth about $33,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 1.5 %

NSC stock traded up $3.54 on Monday, reaching $237.48. 861,906 shares of the company traded hands, compared to its average volume of 950,982. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The firm has a fifty day simple moving average of $253.27 and a 200-day simple moving average of $245.86. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company has a market cap of $53.73 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm earned $2.65 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.27%. Norfolk Southern’s payout ratio is 50.70%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Sanford C. Bernstein boosted their price objective on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Loop Capital raised their target price on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI cut their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group boosted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

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.