100,112 Shares in Norfolk Southern Co. (NYSE:NSC) Purchased by Apexium Financial LP

Apexium Financial LP bought a new stake in Norfolk Southern Co. (NYSE:NSC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 100,112 shares of the railroad operator’s stock, valued at approximately $23,664,000. Norfolk Southern comprises approximately 1.7% of Apexium Financial LP’s holdings, making the stock its 10th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Provence Wealth Management Group purchased a new stake in Norfolk Southern during the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC boosted its holdings in Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares in the last quarter. Operose Advisors LLC purchased a new position in Norfolk Southern in the third quarter valued at approximately $32,000. Orion Capital Management LLC acquired a new stake in Norfolk Southern during the third quarter worth approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.5 %

Norfolk Southern stock traded up $1.19 during midday trading on Thursday, hitting $232.55. 1,245,586 shares of the company were exchanged, compared to its average volume of 1,383,750. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company’s fifty day moving average price is $245.74 and its 200-day moving average price is $235.80. The company has a market cap of $52.54 billion, a PE ratio of 37.24, a price-to-earnings-growth ratio of 3.24 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the firm earned $3.32 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that Norfolk Southern Co. will post 11.62 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insiders Place Their Bets

In other news, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Sanford C. Bernstein raised Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 target price for the company in a research report on Monday, January 22nd. UBS Group reduced their price objective on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Benchmark restated a “buy” rating and set a $277.00 target price on shares of Norfolk Southern in a research report on Thursday, April 25th. Finally, Morgan Stanley downgraded shares of Norfolk Southern from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $185.00 to $175.00 in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus price target of $260.74.

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.