Cerebellum GP LLC Takes $344,000 Position in Norfolk Southern Corp. (NYSE:NSC)

Cerebellum GP LLC bought a new position in shares of Norfolk Southern Corp. (NYSE:NSC) during the 1st quarter, HoldingsChannel.com reports. The fund bought 1,842 shares of the railroad operator’s stock, valued at approximately $344,000.

Other institutional investors have also recently bought and sold shares of the company. ARP Americas LP bought a new position in shares of Norfolk Southern during the 1st quarter worth approximately $299,000. Family Firm Inc. bought a new position in shares of Norfolk Southern during the 1st quarter worth approximately $218,000. BB&T Corp lifted its position in shares of Norfolk Southern by 6.0% during the 1st quarter. BB&T Corp now owns 81,679 shares of the railroad operator’s stock worth $15,265,000 after buying an additional 4,639 shares in the last quarter. Sontag Advisory LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth approximately $80,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Norfolk Southern by 71.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 247,910 shares of the railroad operator’s stock worth $37,069,000 after purchasing an additional 103,700 shares during the last quarter. 72.84% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern stock opened at $194.74 on Monday. Norfolk Southern Corp. has a 1-year low of $138.65 and a 1-year high of $211.46. The company has a market capitalization of $51.79 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 1.48 and a beta of 1.38. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.69.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.34. Norfolk Southern had a net margin of 24.10% and a return on equity of 17.80%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $1.93 EPS. Norfolk Southern’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Norfolk Southern Corp. will post 10.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 3rd were paid a $0.86 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $3.44 dividend on an annualized basis and a yield of 1.77%. Norfolk Southern’s dividend payout ratio is 36.17%.

In related news, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total value of $619,043.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Joseph Wheeler sold 2,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $204.57, for a total transaction of $511,425.00. Following the completion of the transaction, the chief operating officer now directly owns 12,919 shares of the company’s stock, valued at $2,642,839.83. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on NSC shares. Zacks Investment Research upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $200.00 price target for the company in a research note on Friday, March 8th. Argus raised their price target on shares of Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Deutsche Bank decreased their price target on shares of Norfolk Southern from $198.00 to $196.00 and set a “hold” rating for the company in a research note on Wednesday, June 12th. Royal Bank of Canada lowered shares of Norfolk Southern from a “sector perform” rating to an “underperform” rating and decreased their price target for the stock from $180.00 to $178.00 in a research note on Tuesday, February 19th. Finally, ValuEngine lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Norfolk Southern currently has a consensus rating of “Buy” and an average target price of $203.11.

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Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corp. (NYSE:NSC).

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

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