Forum Financial Management LP Has $1.28 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Forum Financial Management LP increased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 7.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,468 shares of the railroad operator’s stock after acquiring an additional 370 shares during the period. Forum Financial Management LP’s holdings in Norfolk Southern were worth $1,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in Norfolk Southern during the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. bought a new position in shares of Norfolk Southern during the 4th quarter worth approximately $27,000. Bank of Jackson Hole Trust acquired a new stake in Norfolk Southern in the 4th quarter valued at $27,000. Vision Financial Markets LLC bought a new stake in Norfolk Southern in the fourth quarter valued at $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in Norfolk Southern in the fourth quarter valued at $29,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent analyst reports. UBS Group reduced their price target on shares of Norfolk Southern from $305.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group dropped their target price on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Benchmark reiterated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $268.79.

Insider Transactions at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $219.99 on Friday. Norfolk Southern Co. has a 12 month low of $201.63 and a 12 month high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $54.24 billion, a PE ratio of 19.03, a PEG ratio of 2.31 and a beta of 1.30. The stock’s fifty day simple moving average is $233.78 and its 200 day simple moving average is $245.74.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping 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 predict that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Norfolk Southern 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.