Norfolk Southern Corporation $NSC Shares Acquired by Sepio Capital LP

Sepio Capital LP increased its position in Norfolk Southern Corporation (NYSE:NSC) by 33.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,219 shares of the railroad operator’s stock after purchasing an additional 3,820 shares during the period. Sepio Capital LP’s holdings in Norfolk Southern were worth $3,896,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Norfolk Southern by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock worth $2,680,910,000 after acquiring an additional 2,710,930 shares during the last quarter. Norges Bank acquired a new stake in Norfolk Southern during the 2nd quarter worth $613,255,000. Kingstone Capital Partners Texas LLC acquired a new stake in Norfolk Southern during the 2nd quarter worth $321,393,000. Adage Capital Partners GP L.L.C. grew its position in Norfolk Southern by 341.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock worth $187,100,000 after purchasing an additional 611,198 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Norfolk Southern in the first quarter valued at $122,256,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.7%

Norfolk Southern stock opened at $292.09 on Monday. The stock’s 50 day moving average price is $288.58 and its 200 day moving average price is $273.90. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The company has a market cap of $65.54 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.

Norfolk Southern (NYSE:NSC) last released its 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). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the business posted $3.25 EPS. Norfolk Southern’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Friday, November 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s payout ratio is currently 41.19%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NSC shares. Zacks Research downgraded shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada reduced their price objective on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. TD Cowen cut their price target on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Finally, Evercore ISI increased their price target on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $301.10.

Insiders Place Their Bets

In related news, Director Sameh Fahmy bought 1,650 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was bought at an average cost of $282.97 per share, with a total value of $466,900.50. Following the completion of the acquisition, the director owned 12,000 shares in the company, valued at approximately $3,395,640. This represents a 15.94% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anil Bhatt sold 900 shares of the business’s stock in a transaction that occurred 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 directly owned 1,413 shares in the company, valued at $397,900.80. This trade represents a 38.91% decrease in their position. The SEC filing for this sale provides additional information. 0.06% of the stock is currently owned by company insiders.

About Norfolk Southern

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.