Norfolk Southern Corporation $NSC Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its position in Norfolk Southern Corporation (NYSE:NSC) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,817 shares of the railroad operator’s stock after selling 8,337 shares during the quarter. Voya Investment Management LLC’s holdings in Norfolk Southern were worth $11,060,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas purchased a new position in Norfolk Southern in the 2nd quarter worth approximately $26,000. WPG Advisers LLC acquired a new stake in shares of Norfolk Southern in the first quarter valued at approximately $27,000. True Wealth Design LLC increased its holdings in shares of Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. NewSquare Capital LLC lifted its position in Norfolk Southern by 58.5% during the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in Norfolk Southern during the second quarter worth $35,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. TD Cowen decreased their price objective on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a report on Friday, October 24th. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Zacks Research lowered Norfolk Southern from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Finally, BMO Capital Markets increased their price target on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and an average price target of $299.40.

Insider Activity at Norfolk Southern

In related news, Director Richard H. Anderson acquired 2,600 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was bought at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the purchase, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. The trade was a 59.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Jr. Clyburn bought 204 shares of Norfolk Southern stock in a transaction dated Friday, December 5th. The stock was purchased at an average cost of $294.79 per share, with a total value of $60,137.16. Following the completion of the acquisition, the director directly owned 405 shares in the company, valued at approximately $119,389.95. The trade was a 101.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 4,454 shares of company stock valued at $1,259,874. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC opened at $291.72 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The firm’s fifty day simple moving average is $287.87 and its 200-day simple moving average is $279.46. The firm has a market capitalization of $65.46 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 5.38 and a beta of 1.32. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.25 earnings per share. Equities analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Friday, November 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Norfolk Southern’s dividend payout ratio is 41.19%.

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.