Norfolk Southern Co. (NYSE:NSC) Shares Acquired by V Square Quantitative Management LLC

V Square Quantitative Management LLC lifted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 31.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,465 shares of the railroad operator’s stock after purchasing an additional 594 shares during the quarter. V Square Quantitative Management LLC’s holdings in Norfolk Southern were worth $613,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cedar Wealth Management LLC purchased a new position in Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the second quarter worth about $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the second quarter valued at about $31,000. HWG Holdings LP purchased a new stake in Norfolk Southern in the 2nd quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Norfolk Southern in the 2nd quarter valued at approximately $34,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Up 1.7 %

NSC opened at $252.37 on Friday. The business’s fifty day simple moving average is $247.82 and its 200 day simple moving average is $236.87. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The firm has a market cap of $57.01 billion, a P/E ratio of 40.64, a PEG ratio of 2.33 and a beta of 1.31. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.14%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NSC shares. Wells Fargo & Company raised their price target on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Citigroup started coverage on Norfolk Southern in a report on Wednesday, October 9th. They issued a “buy” rating and a $294.00 target price for the company. Evercore ISI upped their price target on shares of Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Sanford C. Bernstein boosted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.17.

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.