Virtu Financial LLC Makes New Investment in Norfolk Southern Co. (NYSE:NSC)

Virtu Financial LLC purchased a new stake in Norfolk Southern Co. (NYSE:NSC) during the second quarter, according to its most recent filing with the SEC. The firm purchased 12,302 shares of the railroad operator’s stock, valued at approximately $2,641,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NSC. State of Tennessee Treasury Department grew its stake in Norfolk Southern by 209.3% in the fourth quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock valued at $26,454,000 after purchasing an additional 75,729 shares during the last quarter. Catalytic Wealth RIA LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth approximately $608,000. Manning & Napier Advisors LLC purchased a new stake in Norfolk Southern during the second quarter valued at approximately $13,627,000. Buckingham Strategic Wealth LLC boosted its stake in Norfolk Southern by 7.0% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock valued at $22,783,000 after acquiring an additional 6,306 shares in the last quarter. Finally, Evermay Wealth Management LLC grew its holdings in Norfolk Southern by 1.5% in the fourth quarter. Evermay Wealth Management LLC now owns 4,667 shares of the railroad operator’s stock worth $1,103,000 after purchasing an additional 67 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NYSE:NSC opened at $247.12 on Tuesday. 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 Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The stock’s 50-day moving average price is $241.02 and its 200-day moving average price is $237.97. The stock has a market capitalization of $55.83 billion, a PE ratio of 39.79, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the business earned $2.95 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Richard H. Anderson bought 2,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was bought at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at $742,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the acquisition, the director now owns 7,700 shares in the company, valued at $1,887,655. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on NSC shares. Royal Bank of Canada decreased their price objective on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Benchmark increased their price target on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Susquehanna boosted their price target on Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Finally, Stifel Nicolaus boosted their target price on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.24.

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.