Versor Investments LP Grows Position in Norfolk Southern Corporation $NSC

Versor Investments LP lifted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 12.9% during the fourth quarter, HoldingsChannel reports. The firm owned 53,663 shares of the railroad operator’s stock after purchasing an additional 6,146 shares during the quarter. Norfolk Southern accounts for about 2.4% of Versor Investments LP’s investment portfolio, making the stock its 4th biggest holding. Versor Investments LP’s holdings in Norfolk Southern were worth $15,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cullen Capital Management LLC raised its stake in Norfolk Southern by 31.8% in the 3rd quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock valued at $36,455,000 after acquiring an additional 29,264 shares during the period. Markel Group Inc. raised its stake in Norfolk Southern by 8.5% in the 3rd quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock valued at $77,055,000 after acquiring an additional 20,000 shares during the period. Picton Mahoney Asset Management bought a new stake in Norfolk Southern in the 3rd quarter valued at about $24,033,000. AlphaQuest LLC bought a new stake in Norfolk Southern in the 3rd quarter valued at about $2,165,000. Finally, First Horizon Corp bought a new stake in Norfolk Southern in the 3rd quarter valued at about $565,000. 75.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. BMO Capital Markets lifted their target price on Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Rothschild & Co Redburn lifted their target price on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Robert W. Baird lifted their target price on Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Six investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $319.83.

Norfolk Southern Stock Down 0.3%

Shares of NYSE NSC opened at $311.04 on Tuesday. Norfolk Southern Corporation has a 12 month low of $232.35 and a 12 month high of $323.37. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $69.86 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 5.76 and a beta of 1.30. The business has a 50-day moving average of $299.58 and a 200-day moving average of $295.25.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm earned $2.69 earnings per share. Norfolk Southern’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is presently 45.49%.

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.