Paloma Partners Management Co increased its position in Norfolk Southern Corp. (NYSE:NSC) by 368.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 66,668 shares of the railroad operator’s stock after buying an additional 52,449 shares during the quarter. Paloma Partners Management Co’s holdings in Norfolk Southern were worth $9,970,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Bruderman Asset Management LLC bought a new position in Norfolk Southern in the 4th quarter valued at about $26,000. Intercontinental Wealth Advisors LLC bought a new position in Norfolk Southern in the 4th quarter valued at about $27,000. Moody National Bank Trust Division bought a new position in Norfolk Southern in the 4th quarter valued at about $31,000. Arlington Partners LLC bought a new position in Norfolk Southern in the 4th quarter valued at about $37,000. Finally, PRW Wealth Management LLC bought a new position in Norfolk Southern in the 4th quarter valued at about $36,000. 73.26% of the stock is currently owned by institutional investors.

Shares of NYSE:NSC opened at $182.63 on Tuesday. Norfolk Southern Corp. has a 12-month low of $127.79 and a 12-month high of $186.91. The company has a market cap of $48.01 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43. The company has a current ratio of 0.72, a quick ratio of 0.64 and a debt-to-equity ratio of 0.69.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.27. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business posted $1.69 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Corp. will post 10.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 4th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, February 1st. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.80. Norfolk Southern’s dividend payout ratio is presently 36.17%.

Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a report on Friday, March 8th. Morgan Stanley increased their price target on shares of Norfolk Southern from $115.00 to $116.00 and gave the company an “underweight” rating in a report on Monday, January 7th. Royal Bank of Canada cut shares of Norfolk Southern from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $180.00 to $178.00 in a report on Tuesday, February 19th. TD Securities increased their price target on shares of Norfolk Southern from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, January 25th. Finally, Loop Capital increased their price target on shares of Norfolk Southern to $210.00 and gave the company a “buy” rating in a report on Monday, February 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $185.37.

In related news, VP Jason Andrew Zampi sold 519 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $181.34, for a total transaction of $94,115.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Michael Joseph Wheeler sold 4,761 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $180.23, for a total transaction of $858,075.03. Following the sale, the chief operating officer now owns 19,724 shares in the company, valued at approximately $3,554,856.52. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

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About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

Further Reading: QQQ ETF

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

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