Oppenheimer & Co. Inc. Buys 2,862 Shares of Norfolk Southern Co. (NYSE:NSC)

Oppenheimer & Co. Inc. lifted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,312 shares of the railroad operator’s stock after buying an additional 2,862 shares during the period. Oppenheimer & Co. Inc.’s holdings in Norfolk Southern were worth $3,359,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kovack Advisors Inc. increased its holdings in Norfolk Southern by 35.0% in the 4th quarter. Kovack Advisors Inc. now owns 1,544 shares of the railroad operator’s stock worth $362,000 after purchasing an additional 400 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Norfolk Southern by 2.6% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 39,460 shares of the railroad operator’s stock worth $9,261,000 after purchasing an additional 1,000 shares during the last quarter. New York Life Investment Management LLC increased its stake in shares of Norfolk Southern by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 30,331 shares of the railroad operator’s stock valued at $7,119,000 after buying an additional 253 shares during the period. Lineweaver Wealth Advisors LLC raised its holdings in Norfolk Southern by 14.0% in the 4th quarter. Lineweaver Wealth Advisors LLC now owns 5,165 shares of the railroad operator’s stock valued at $1,214,000 after buying an additional 636 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Norfolk Southern by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,400 shares of the railroad operator’s stock worth $4,553,000 after buying an additional 96 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 1.6 %

NYSE:NSC opened at $245.96 on Friday. The firm has a fifty day simple moving average of $246.07 and a two-hundred day simple moving average of $250.85. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The stock has a market capitalization of $55.69 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS 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%. Analysts expect 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. Stockholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NSC shares. Loop Capital downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price target for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Robert W. Baird raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Stephens upped their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Barclays increased their price target on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $276.11.

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.