Quadrature Capital Ltd Reduces Position in Norfolk Southern Co. (NYSE:NSC)

Quadrature Capital Ltd lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 86.0% in the 4th quarter, Holdings Channel reports. The fund owned 9,980 shares of the railroad operator’s stock after selling 61,543 shares during the quarter. Quadrature Capital Ltd’s holdings in Norfolk Southern were worth $2,359,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NSC. Provence Wealth Management Group purchased a new stake in Norfolk Southern during the 3rd quarter valued at about $28,000. Exchange Traded Concepts LLC grew its stake in Norfolk Southern by 662.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after acquiring an additional 106 shares in the last quarter. Operose Advisors LLC purchased a new stake in Norfolk Southern during the 3rd quarter valued at about $32,000. Orion Capital Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NSC. TD Cowen increased their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. The Goldman Sachs Group increased their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. UBS Group dropped their price target on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company began coverage on shares of Norfolk Southern in a research report on Friday, June 7th. They set an “overweight” rating and a $270.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.56.

View Our Latest Research Report on NSC

Norfolk Southern Price Performance

Shares of NSC opened at $220.90 on Tuesday. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The firm’s fifty day simple moving average is $232.00 and its 200-day simple moving average is $239.46. The firm has a market capitalization of $49.90 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 2.07 and a beta of 1.31. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37.

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

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Activity at Norfolk Southern

In related news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy acquired 2,000 shares of the stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $1,534,750. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

About Norfolk Southern

(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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