GAMMA Investing LLC Has $905,000 Position in Norfolk Southern Co. (NYSE:NSC)

GAMMA Investing LLC increased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its position in Norfolk Southern by 67.4% during the 2nd quarter. Foundations Investment Advisors LLC now owns 3,011 shares of the railroad operator’s stock worth $646,000 after acquiring an additional 1,212 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Norfolk Southern by 3.4% during the second quarter. TD Asset Management Inc now owns 83,433 shares of the railroad operator’s stock worth $17,912,000 after purchasing an additional 2,710 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Norfolk Southern by 0.9% in the second quarter. Arizona State Retirement System now owns 65,488 shares of the railroad operator’s stock valued at $14,060,000 after buying an additional 594 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in Norfolk Southern by 0.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 11,749 shares of the railroad operator’s stock valued at $2,522,000 after buying an additional 50 shares during the last quarter. Finally, New York Life Investment Management LLC boosted its position in Norfolk Southern by 0.5% during the 2nd quarter. New York Life Investment Management LLC now owns 31,048 shares of the railroad operator’s stock worth $6,666,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 0.5 %

NYSE NSC opened at $235.88 on Friday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The business has a 50 day moving average price of $254.81 and a 200-day moving average price of $244.92. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The company has a market cap of $53.37 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 2.34 and a beta of 1.31.

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

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NSC shares. Loop Capital lifted their price target on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group upped their price target on 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 report on Wednesday, October 23rd. Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average 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.