CoreFirst Bank & Trust Makes New $1.15 Million Investment in Norfolk Southern Co. (NYSE:NSC)

CoreFirst Bank & Trust purchased a new stake in Norfolk Southern Co. (NYSE:NSC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,885 shares of the railroad operator’s stock, valued at approximately $1,147,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Financial Life Planners bought a new stake in Norfolk Southern during the fourth quarter valued at $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern during the 4th quarter valued at about $27,000. Vision Financial Markets LLC bought a new stake in Norfolk Southern in the fourth quarter worth approximately $28,000. Finally, Atlantic Private Wealth LLC acquired a new position in Norfolk Southern in the fourth quarter valued at approximately $29,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $236.11 on Tuesday. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The business’s fifty day moving average is $246.01 and its 200 day moving average is $249.63. 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 firm has a market cap of $53.46 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating 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%. Research analysts predict that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.29%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NSC shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 price objective for the company. Susquehanna decreased their price target on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Loop Capital cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their price objective for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Stephens boosted their target price on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $276.63.

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.