ZEGA Investments LLC Acquires Shares of 8,934 Norfolk Southern Corporation $NSC

ZEGA Investments LLC bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 8,934 shares of the railroad operator’s stock, valued at approximately $2,684,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Aberdeen Group plc lifted its position in Norfolk Southern by 6.4% during the second quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock worth $135,610,000 after acquiring an additional 31,878 shares during the last quarter. Park Place Capital Corp lifted its holdings in shares of Norfolk Southern by 13,000.0% during the third quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock worth $1,102,000 after buying an additional 3,640 shares in the last quarter. Morningstar Investment Management LLC bought a new stake in shares of Norfolk Southern in the second quarter valued at about $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Norfolk Southern by 682.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock valued at $14,337,000 after acquiring an additional 48,850 shares during the period. Finally, West Family Investments Inc. acquired a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $260,000. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Richard H. Anderson bought 2,600 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the acquisition, the director directly owned 7,000 shares in the company, valued at approximately $1,973,020. This represents a 59.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Jr. Clyburn bought 204 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the transaction, the director owned 405 shares in the company, valued at $119,389.95. This represents a 101.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 4,454 shares of company stock worth $1,259,874 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NSC shares. Citigroup increased their price target on Norfolk Southern from $307.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. TD Cowen cut their price objective on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Zacks Research lowered shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Susquehanna raised their target price on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Finally, UBS Group decreased their price target on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and an average target price of $299.85.

Norfolk Southern Stock Performance

NYSE NSC opened at $288.73 on Tuesday. The company has a market capitalization of $64.79 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 4.92 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24. The stock has a fifty day simple moving average of $289.12 and a 200 day simple moving average of $283.36.

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

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio is 41.19%.

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.