GAMMA Investing LLC Acquires 150 Shares of Norfolk Southern Co. (NYSE:NSC)

GAMMA Investing LLC grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,858 shares of the railroad operator’s stock after purchasing an additional 150 shares during the quarter. GAMMA Investing LLC’s holdings in Norfolk Southern were worth $905,000 at the end of the most recent reporting period.

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

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $235.88 on Friday. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. 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 market capitalization of $53.37 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.34 and a beta of 1.31. The company’s fifty day moving average price is $254.81 and its 200-day moving average price is $244.92.

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

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of several research reports. Loop Capital increased their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. UBS Group boosted their price target 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. TD Cowen raised their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, Susquehanna increased their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.68.

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.