Assetmark Inc. Grows Stock Position in Norfolk Southern Co. (NYSE:NSC)

Assetmark Inc. increased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 9.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,210 shares of the railroad operator’s stock after purchasing an additional 289 shares during the quarter. Assetmark Inc.’s holdings in Norfolk Southern were worth $753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Life Planners purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. purchased a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust bought a new stake in Norfolk Southern in the 4th quarter worth $27,000. Morse Asset Management Inc purchased a new position in shares of Norfolk Southern in the third quarter valued at about $30,000. Finally, Coastline Trust Co purchased a new position in shares of Norfolk Southern in the third quarter valued at about $32,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Down 2.4 %

NSC stock opened at $233.35 on Wednesday. The business has a 50 day moving average of $246.59 and a 200 day moving average of $250.88. The firm has a market cap of $52.84 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, research analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.31%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the firm’s 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 completion of the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NSC shares. Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. Barclays lifted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 target price for the company. Stephens lifted their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and an average target price of $276.95.

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.