ING Groep NV Takes $8.71 Million Position in Norfolk Southern Corporation $NSC

ING Groep NV purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,004 shares of the railroad operator’s stock, valued at approximately $8,713,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 worth $5,263,069,000 after purchasing an additional 239,914 shares in the last quarter. Dodge & Cox raised 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 valued at $2,779,609,000 after buying an additional 192,567 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 36,362 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in Norfolk Southern by 4.6% during the second quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock valued at $1,070,702,000 after buying an additional 184,586 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Norfolk Southern by 6.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock worth $841,994,000 after purchasing an additional 201,861 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC stock opened at $317.56 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The firm has a 50 day moving average price of $292.96 and a 200-day moving average price of $287.55. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $318.65. The firm has a market capitalization of $71.31 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 5.61 and a beta of 1.34.

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

Norfolk Southern Announces Dividend

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

Insider Transactions at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the sale, the executive vice president directly owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This represents a 38.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Jr. Clyburn bought 204 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was purchased at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the purchase, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. This represents a 101.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of several analyst reports. Wolfe Research increased their price target on shares of Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Susquehanna boosted their target price on Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. UBS Group downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price objective on the stock. in a research report on Friday, February 6th. JPMorgan Chase & Co. reduced their price target on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Finally, Evercore lifted their price objective on Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Seven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus 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.