Midwest Professional Planners LTD. Buys 95 Shares of Norfolk Southern Co. (NYSE:NSC)

Midwest Professional Planners LTD. boosted its stake in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,823 shares of the railroad operator’s stock after purchasing an additional 95 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Norfolk Southern were worth $1,734,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Norfolk Southern by 14.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,125 shares of the railroad operator’s stock worth $335,000 after purchasing an additional 145 shares during the period. Curran Financial Partners LLC bought a new stake in Norfolk Southern during the fourth quarter worth approximately $240,000. Confluence Wealth Services Inc. bought a new stake in Norfolk Southern during the fourth quarter worth approximately $228,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Norfolk Southern during the fourth quarter worth approximately $2,941,000. Finally, Pittenger & Anderson Inc. boosted its position in Norfolk Southern by 0.5% during the fourth quarter. Pittenger & Anderson Inc. now owns 44,909 shares of the railroad operator’s stock worth $13,370,000 after purchasing an additional 242 shares during the period. 73.63% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on NSC. TD Securities increased their price objective on Norfolk Southern from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 28th. Royal Bank of Canada increased their price objective on Norfolk Southern from $262.00 to $273.00 in a research report on Thursday, January 27th. Susquehanna Bancshares reduced their price objective on Norfolk Southern from $356.00 to $350.00 in a research report on Thursday, April 7th. StockNews.com began coverage on Norfolk Southern in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Norfolk Southern from $318.00 to $308.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $309.41.

In related news, Director Steven F. Leer sold 700 shares of Norfolk Southern stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $265.51, for a total value of $185,857.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Alan H. Shaw sold 1,000 shares of Norfolk Southern stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $256.70, for a total value of $256,700.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Shares of NYSE:NSC traded up $3.26 on Friday, hitting $249.32. The stock had a trading volume of 1,116,431 shares, compared to its average volume of 1,423,140. Norfolk Southern Co. has a twelve month low of $238.62 and a twelve month high of $299.20. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.87 and a current ratio of 0.96. The firm’s 50 day moving average price is $265.24 and its 200-day moving average price is $274.53. The company has a market capitalization of $59.42 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.36.

Norfolk Southern (NYSE:NSCGet Rating) last issued its earnings results on Wednesday, April 27th. The railroad operator reported $2.93 EPS for the quarter, beating the consensus estimate of $2.91 by $0.02. Norfolk Southern had a net margin of 26.58% and a return on equity of 21.95%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the company earned $2.66 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that Norfolk Southern Co. will post 13.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Friday, May 6th will be paid a $1.24 dividend. The ex-dividend date is Thursday, May 5th. This represents a $4.96 annualized dividend and a dividend yield of 1.99%. Norfolk Southern’s dividend payout ratio is presently 40.03%.

Norfolk Southern announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 29th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the railroad operator to repurchase up to 14.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Norfolk Southern Company Profile (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

See Also

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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