Core Alternative Capital Lowers Holdings in Norfolk Southern Co. (NYSE:NSC)

Core Alternative Capital reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,729 shares of the railroad operator’s stock after selling 2,248 shares during the quarter. Core Alternative Capital’s holdings in Norfolk Southern were worth $6,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NSC. Atomi Financial Group Inc. bought a new stake in Norfolk Southern in the 3rd quarter worth approximately $214,000. CWM LLC grew its holdings in shares of Norfolk Southern by 17.0% in the third quarter. CWM LLC now owns 8,622 shares of the railroad operator’s stock valued at $2,142,000 after purchasing an additional 1,254 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Norfolk Southern by 291.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,218 shares of the railroad operator’s stock worth $551,000 after purchasing an additional 1,651 shares during the last quarter. Ritholtz Wealth Management raised its stake in Norfolk Southern by 11.3% during the third quarter. Ritholtz Wealth Management now owns 6,726 shares of the railroad operator’s stock valued at $1,671,000 after purchasing an additional 685 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter worth $144,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock opened at $253.63 on Tuesday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The stock has a fifty day simple moving average of $246.51 and a two-hundred day simple moving average of $250.03. The stock has a market capitalization of $57.38 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 2.32 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data 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 net margin of 21.63% and a return on equity of 20.04%. On average, analysts predict that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NSC. UBS Group upped their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI lowered their price objective 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. Susquehanna cut their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada raised their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Stephens boosted their price objective on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and an average target price of $276.11.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sameh Fahmy acquired 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the transaction, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

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.