502,610 Shares in Norfolk Southern Corporation $NSC Acquired by Alpine Associates Management Inc.

Alpine Associates Management Inc. bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 502,610 shares of the railroad operator’s stock, valued at approximately $150,989,000. Norfolk Southern comprises 9.1% of Alpine Associates Management Inc.’s portfolio, making the stock its largest position. Alpine Associates Management Inc. owned 0.22% of Norfolk Southern at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tritonpoint Wealth LLC increased its position in shares of Norfolk Southern by 3.5% during the third quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after buying an additional 35 shares during the period. Massachusetts Wealth Management grew its holdings in Norfolk Southern by 0.6% during the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after purchasing an additional 35 shares during the period. ORG Partners LLC raised its stake in Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Princeton Global Asset Management LLC raised its stake in Norfolk Southern by 2.3% during the second quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock valued at $420,000 after purchasing an additional 37 shares in the last quarter. Finally, Horan Securities Inc. raised its stake in shares of Norfolk Southern by 2.1% during the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock valued at $452,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wolfe Research lifted their price target on Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Sanford C. Bernstein decreased their price target on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. TD Cowen dropped their price target on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Citigroup cut their price target on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Finally, Robert W. Baird reduced their price target on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $304.47.

Norfolk Southern Price Performance

NYSE NSC opened at $317.56 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $318.65. The company has a market capitalization of $71.31 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 5.61 and a beta of 1.34. The stock has a 50-day moving average of $292.96 and a 200 day moving average of $287.55.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.46. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 EPS. On average, sell-side analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is 42.35%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director William Jr. Clyburn purchased 204 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were bought at an average price of $294.79 per share, with a total value of $60,137.16. Following the completion of the purchase, the director directly owned 405 shares in the company, valued at $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Anil Bhatt sold 900 shares of Norfolk Southern stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the transaction, the executive vice president directly owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.06% of the company’s stock.

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.