Phoenix Financial Ltd. Has $2.25 Million Stake in Norfolk Southern Corporation $NSC

Phoenix Financial Ltd. lowered its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 98.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,489 shares of the railroad operator’s stock after selling 572,860 shares during the quarter. Phoenix Financial Ltd.’s holdings in Norfolk Southern were worth $2,250,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NSC. Norges Bank bought a new stake in Norfolk Southern during the 2nd quarter valued at approximately $613,255,000. Holocene Advisors LP boosted its stake in Norfolk Southern by 550.6% during the second quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock worth $251,712,000 after buying an additional 832,210 shares in the last quarter. TOMS Capital Investment Management LP bought a new stake in Norfolk Southern in the second quarter valued at about $181,995,000. Assenagon Asset Management S.A. grew its stake in shares of Norfolk Southern by 93.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock valued at $286,154,000 after purchasing an additional 459,166 shares during the period. Finally, Laurel Wealth Advisors LLC grew its position in Norfolk Southern by 25,497.0% in the second quarter. Laurel Wealth Advisors LLC now owns 428,750 shares of the railroad operator’s stock valued at $109,747,000 after acquiring an additional 427,075 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Up 0.3%

NYSE NSC opened at $289.02 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The stock has a market capitalization of $64.85 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 5.05 and a beta of 1.33. The stock has a fifty day moving average of $290.03 and a 200-day moving average of $285.44.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s dividend payout ratio is presently 41.19%.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,650 shares of Norfolk Southern stock in a transaction on Wednesday, November 5th. The shares were purchased at an average cost of $282.97 per share, with a total value of $466,900.50. Following the completion of the purchase, the director owned 12,000 shares in the company, valued at $3,395,640. The trade was a 15.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Anil Bhatt sold 900 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the sale, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NSC. UBS Group dropped their target price on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $354.00 to $297.00 in a report on Thursday, December 11th. Sanford C. Bernstein reduced their target price on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Norfolk Southern in a research report on Thursday, January 22nd. Finally, Evercore ISI raised their price target on Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $303.52.

Norfolk Southern Company Profile

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.