V Square Quantitative Management LLC Boosts Position in Norfolk Southern Co. (NYSE:NSC)

V Square Quantitative Management LLC grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 31.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,465 shares of the railroad operator’s stock after purchasing an additional 594 shares during the period. V Square Quantitative Management LLC’s holdings in Norfolk Southern were worth $613,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cedar Wealth Management LLC purchased a new stake in Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern during the second quarter worth about $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern in the second quarter worth about $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $31,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 1.7 %

Shares of NYSE:NSC opened at $252.37 on Friday. The company’s fifty day moving average is $247.82 and its two-hundred day moving average is $236.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The stock has a market capitalization of $57.01 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 19.64% and a net margin of 14.85%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $2.95 earnings per share. Equities analysts anticipate that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Announces Dividend

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

Insider Transactions at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. 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 through the SEC website. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NSC. TD Cowen upped their price target on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Morgan Stanley restated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Evercore ISI lifted 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. Susquehanna upped their price objective on shares of Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. One 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.