47,517 Shares in Norfolk Southern Corporation $NSC Purchased by Versor Investments LP

Versor Investments LP bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 47,517 shares of the railroad operator’s stock, valued at approximately $14,275,000. Norfolk Southern accounts for about 2.6% of Versor Investments LP’s investment portfolio, making the stock its 4th largest position.

Several other large investors have also modified their holdings of the business. ORG Partners LLC lifted its stake in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Westside Investment Management Inc. grew its stake in Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after purchasing an additional 58 shares during the last quarter. MMA Asset Management LLC bought a new position in Norfolk Southern in the third quarter worth about $28,000. BNP Paribas purchased a new stake in Norfolk Southern during the second quarter valued at approximately $26,000. Finally, Highline Wealth Partners LLC boosted its position in shares of Norfolk Southern by 68.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $305.92 on Tuesday. The firm’s fifty day simple moving average is $292.01 and its 200-day simple moving average is $287.10. The firm has a market capitalization of $68.65 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 5.45 and a beta of 1.34. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $309.21. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period last year, the firm posted $3.04 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Insider Transactions at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the sale, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. This represents a 38.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Jr. Clyburn acquired 204 shares of Norfolk Southern stock in a transaction dated Friday, December 5th. The shares were acquired at an average price of $294.79 per share, with a total value of $60,137.16. Following the completion of the transaction, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. This trade represents a 101.49% increase in their position. The SEC filing for this purchase provides additional information. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on NSC. Deutsche Bank Aktiengesellschaft downgraded Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the company from $354.00 to $297.00 in a research report on Thursday, December 11th. BMO Capital Markets increased their price target on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Susquehanna boosted their target price on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Finally, Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Seven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $304.47.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.