Varma Mutual Pension Insurance Co Acquires 3,800 Shares of Norfolk Southern Corporation $NSC

Varma Mutual Pension Insurance Co increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,410 shares of the railroad operator’s stock after acquiring an additional 3,800 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Norfolk Southern were worth $14,242,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Norfolk Southern by 1.2% in the second quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock valued at $5,263,069,000 after purchasing an additional 239,914 shares during the last quarter. Dodge & Cox boosted its holdings in shares of Norfolk Southern by 1.8% during the 2nd quarter. Dodge & Cox now owns 10,859,121 shares of the railroad operator’s stock worth $2,779,609,000 after buying an additional 192,567 shares during the period. Geode Capital Management LLC grew its stake in Norfolk Southern by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,822,075 shares of the railroad operator’s stock valued at $1,228,064,000 after buying an additional 36,362 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in Norfolk Southern by 4.6% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock valued at $1,070,702,000 after acquiring an additional 184,586 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Norfolk Southern by 6.5% during the second quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock worth $841,994,000 after acquiring an additional 201,861 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the sale, the executive vice president owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This trade represents a 38.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Jr. Clyburn purchased 204 shares of the stock in a transaction dated Friday, December 5th. The shares were acquired at an average cost of $294.79 per share, with a total value of $60,137.16. Following the acquisition, the director directly owned 405 shares in the company, valued at $119,389.95. This represents a 101.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by corporate insiders.

Norfolk Southern Stock Down 0.9%

NSC stock opened at $314.56 on Friday. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $319.94. The business has a 50-day simple moving average of $293.35 and a 200 day simple moving average of $287.74. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The company has a market cap of $70.64 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 5.64 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last announced 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 firm had revenue of $3 billion for 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 business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 earnings per share. Sell-side analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, February 6th. Norfolk Southern’s payout ratio is currently 42.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price on the stock. in a research report on Friday, February 6th. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their target price for the company from $354.00 to $297.00 in a research report on Thursday, December 11th. Evercore upped their price target on shares of Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Finally, Zacks Research cut shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Seven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $304.47.

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.