Norfolk Southern Co. (NYSE:NSC) Stake Raised by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,191 shares of the railroad operator’s stock after purchasing an additional 238 shares during the period. Parsons Capital Management Inc. RI’s holdings in Norfolk Southern were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in NSC. Mizuho Securities USA LLC boosted its holdings in 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 worth $819,553,000 after buying an additional 3,280,579 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after acquiring an additional 889,925 shares in the last quarter. FMR LLC grew its holdings 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 acquiring an additional 881,415 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth $207,830,000. Finally, Holocene Advisors LP purchased a new stake in shares of Norfolk Southern during the third quarter valued at $122,798,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

NYSE NSC opened at $252.20 on Wednesday. The company has a 50 day moving average price of $249.56 and a two-hundred day moving average price of $248.42. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The stock has a market capitalization of $57.06 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.14%. Norfolk Southern’s payout ratio is 50.70%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NSC. JPMorgan Chase & Co. boosted their price objective on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Benchmark raised their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein boosted their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus raised their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.68.

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.