Keystone Financial Group Inc. Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Keystone Financial Group Inc. bought a new stake in shares of Norfolk Southern Co. (NYSE:NSC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 116 shares of the railroad operator’s stock, valued at approximately $27,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its holdings in Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after purchasing an additional 3,280,579 shares during the period. Pathway Financial Advisers LLC grew its position in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares in the last quarter. FMR LLC raised its position in Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after buying an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth approximately $207,830,000. Finally, Holocene Advisors LP purchased a new position in shares of Norfolk Southern during the 3rd quarter valued at $122,798,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of recent research reports. Robert W. Baird upped their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company reduced their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. TD Cowen raised their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Bank of America lifted their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup upped their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Trading Down 0.5 %

Shares of NYSE:NSC opened at $251.33 on Friday. The company has a market capitalization of $56.86 billion, a P/E ratio of 21.74, a P/E/G ratio of 2.35 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The business’s 50 day simple moving average is $247.53 and its 200 day simple moving average is $249.49. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that Norfolk Southern Co. will post 13.07 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy purchased 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gilbert H. Lamphere purchased 607 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Norfolk Southern Company 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.