29,004 Shares in Norfolk Southern Corporation $NSC Purchased by ING Groep NV

ING Groep NV purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,004 shares of the railroad operator’s stock, valued at approximately $8,713,000.

A number of other hedge funds have also recently bought and sold shares of NSC. Tritonpoint Wealth LLC boosted its holdings in shares of Norfolk Southern by 3.5% in the 3rd 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 last quarter. Massachusetts Wealth Management raised its position in Norfolk Southern by 0.6% during the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock worth $1,798,000 after acquiring an additional 35 shares in the last quarter. ORG Partners LLC lifted its stake in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings 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 worth $420,000 after purchasing an additional 37 shares during the period. Finally, Horan Securities Inc. boosted its stake in shares of Norfolk Southern by 2.1% during the 2nd quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock worth $452,000 after acquiring an additional 37 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NSC. JPMorgan Chase & Co. lowered their price target on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. 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 research note on Friday, January 30th. Sanford C. Bernstein decreased their price objective on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Finally, Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $304.47.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, EVP Anil Bhatt sold 900 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 1,413 shares in the company, valued at $397,900.80. The trade was a 38.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Jr. Clyburn purchased 204 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the purchase, the director owned 405 shares in the company, valued at approximately $119,389.95. The trade was a 101.49% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is owned by insiders.

Norfolk Southern Stock Performance

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

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The company 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%.Norfolk Southern’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $3.04 earnings per share. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Norfolk Southern 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.