Objectivity Squared LLC Invests $272,000 in Norfolk Southern Co. (NYSE:NSC)

Objectivity Squared LLC bought a new stake in Norfolk Southern Co. (NYSE:NSCFree Report) during the 4th quarter, HoldingsChannel reports. The firm bought 1,149 shares of the railroad operator’s stock, valued at approximately $272,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WealthPlan Investment Management LLC boosted its holdings in Norfolk Southern by 2,777.8% during the third quarter. WealthPlan Investment Management LLC now owns 2,590 shares of the railroad operator’s stock worth $510,000 after purchasing an additional 2,500 shares during the last quarter. MGO One Seven LLC increased its holdings in Norfolk Southern by 56.9% during the 3rd quarter. MGO One Seven LLC now owns 2,107 shares of the railroad operator’s stock worth $415,000 after acquiring an additional 764 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Norfolk Southern by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 58,637 shares of the railroad operator’s stock worth $11,547,000 after buying an additional 187 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Norfolk Southern by 0.4% in the 3rd quarter. Corient Private Wealth LLC now owns 138,185 shares of the railroad operator’s stock worth $27,210,000 after buying an additional 490 shares during the last quarter. Finally, Syon Capital LLC bought a new position in shares of Norfolk Southern during the 3rd quarter valued at $333,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Up 0.2 %

Shares of NYSE NSC traded up $0.56 during midday trading on Friday, hitting $226.86. The stock had a trading volume of 779,822 shares, compared to its average volume of 1,368,675. The company’s 50-day simple moving average is $242.14 and its 200 day simple moving average is $237.08. The firm has a market cap of $51.25 billion, a P/E ratio of 36.28, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61.

Norfolk Southern (NYSE:NSCGet Free Report) last released its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.32 EPS. Research analysts anticipate that Norfolk Southern Co. will post 11.88 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research reports. Morgan Stanley lowered shares of Norfolk Southern from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $185.00 to $175.00 in a research note on Monday, January 29th. BMO Capital Markets dropped their target price on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. Loop Capital increased their target price on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. The Goldman Sachs Group raised their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, TD Cowen increased their target price on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus price target of $261.78.

View Our Latest Research Report on NSC

Insider Activity at Norfolk Southern

In other news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Company Profile

(Free Report)

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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