Boothbay Fund Management LLC Acquires 18,376 Shares of Norfolk Southern Co. (NYSE:NSC)

Boothbay Fund Management LLC boosted its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 2,041.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,276 shares of the railroad operator's stock after buying an additional 18,376 shares during the quarter. Boothbay Fund Management LLC's holdings in Norfolk Southern were worth $4,524,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Financial Life Planners bought a new position in shares of Norfolk Southern during the fourth quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern in the 4th quarter worth approximately $27,000. Bank of Jackson Hole Trust bought a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $28,000. Finally, Atlantic Private Wealth LLC bought a new stake in Norfolk Southern during the fourth quarter worth $29,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

NYSE NSC traded down $2.18 during trading hours on Thursday, reaching $221.87. 1,084,744 shares of the stock traded hands, compared to its average volume of 1,310,765. The stock has a 50 day simple moving average of $228.81 and a two-hundred day simple moving average of $244.44. The company has a market cap of $50.02 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 1 year low of $201.63 and a 1 year high of $277.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3.01 billion. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The company's revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.49 earnings per share. On average, analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.43%. Norfolk Southern's dividend payout ratio is presently 36.89%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NSC. JPMorgan Chase & Co. raised their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Citigroup lowered their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Evercore ISI lowered their price target on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Susquehanna reduced their price objective on Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $266.10.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the business's stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares of the company's stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by company 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.