ABC Arbitrage SA Purchases Shares of 12,187 Norfolk Southern Co. (NYSE:NSC)

ABC Arbitrage SA purchased a new stake in Norfolk Southern Co. (NYSE:NSC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,187 shares of the railroad operator’s stock, valued at approximately $2,860,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of NSC. Mizuho Securities USA LLC lifted its holdings in Norfolk Southern by 18,831.2% in the 3rd 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 during the last quarter. Pathway Financial Advisers LLC lifted its holdings in 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 valued at $222,025,000 after acquiring an additional 889,925 shares during the last quarter. FMR LLC raised its holdings in Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after buying an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in Norfolk Southern during the third quarter valued at about $207,830,000. Finally, Holocene Advisors LP acquired a new position in shares of Norfolk Southern in the third quarter worth about $122,798,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction that occurred 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 purchase, 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 insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NSC. Benchmark restated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Robert W. Baird raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Susquehanna dropped their price target 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. Wells Fargo & Company lowered their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Evercore ISI reduced their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Price Performance

NYSE NSC opened at $255.90 on Friday. 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 company has a fifty day simple moving average of $245.44 and a 200 day simple moving average of $250.38. The company has a market cap of $57.89 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.32 and a beta of 1.35. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

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.