Versor Investments LP Purchases New Stake in Norfolk Southern Corporation $NSC

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

Several other institutional investors have also made changes to their positions in NSC. ORG Partners LLC boosted 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 valued at $25,000 after buying an additional 36 shares during the period. Westside Investment Management Inc. boosted its position in Norfolk Southern by 207.1% during 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 purchased a new position in Norfolk Southern in the third quarter valued at about $28,000. BNP Paribas acquired a new position in Norfolk Southern in the 2nd quarter worth about $26,000. Finally, Highline Wealth Partners LLC raised its stake in shares of Norfolk Southern by 68.9% during 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. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Down 0.2%

Norfolk Southern stock opened at $305.92 on Tuesday. The business has a 50 day moving average price of $292.01 and a two-hundred day moving average price of $287.10. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $309.21. The stock has a market cap of $68.65 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 5.45 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 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 company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the firm earned $3.04 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, February 6th. Norfolk Southern’s payout ratio is presently 42.35%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

NSC has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their target price on shares of Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a research note on Friday, January 30th. Citigroup decreased their price objective on shares of Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Finally, Zacks Research lowered Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Seven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average 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.