R Squared Ltd Takes Position in Norfolk Southern Corporation $NSC

R Squared Ltd bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,305 shares of the railroad operator’s stock, valued at approximately $993,000.

A number of other hedge funds have also added to or reduced their stakes in NSC. ORG Partners LLC grew its position in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares during the period. Westside Investment Management Inc. lifted its position in shares of Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after acquiring an additional 58 shares during the period. MMA Asset Management LLC bought a new position in Norfolk Southern during the third quarter worth $28,000. BNP Paribas acquired a new stake in Norfolk Southern in the second quarter worth $26,000. Finally, Highline Wealth Partners LLC increased its stake in Norfolk Southern by 68.9% in the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 0.4%

NYSE NSC opened at $313.10 on Friday. The business’s fifty day moving average is $297.50 and its 200-day moving average is $290.17. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The stock has a market capitalization of $70.31 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 5.62 and a beta of 1.34. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.04 earnings per share. Equities research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, February 6th. Norfolk Southern’s payout ratio is 42.35%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NSC shares. Robert W. Baird cut their price objective on shares of Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft lowered Norfolk Southern from a “buy” rating to a “hold” rating and cut their price target for the stock from $354.00 to $297.00 in a report on Thursday, December 11th. Zacks Research lowered Norfolk Southern from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 19th. Citigroup reduced their price objective on shares of Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Finally, Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Seven analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $304.47.

Insider Buying and Selling

In other news, Director William Jr. Clyburn acquired 204 shares of Norfolk Southern stock in a transaction on Friday, December 5th. The stock was acquired 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 owned 405 shares in the company, valued at approximately $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

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.