ZEGA Investments LLC Takes $2.68 Million Position in Norfolk Southern Corporation $NSC

ZEGA Investments LLC bought a new position in Norfolk Southern Corporation (NYSE:NSC) during the third quarter, according to its most recent filing with the SEC. The firm bought 8,934 shares of the railroad operator’s stock, valued at approximately $2,684,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NSC. ORG Partners LLC lifted its stake in shares of Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. BNP Paribas purchased a new stake in shares of Norfolk Southern in the second quarter worth approximately $26,000. True Wealth Design LLC boosted its position in shares of Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after buying an additional 89 shares during the last quarter. Highline Wealth Partners LLC grew its holdings in Norfolk Southern by 68.9% during the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after buying an additional 42 shares in the last quarter. Finally, NewSquare Capital LLC raised its position in Norfolk Southern by 58.5% in the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $288.73 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The firm has a market capitalization of $64.79 billion, a P/E ratio of 22.02, a PEG ratio of 4.92 and a beta of 1.33. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $302.24. The business has a fifty day moving average price of $289.12 and a 200-day moving average price of $283.36.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.25 earnings per share. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio is presently 41.19%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Richard H. Anderson bought 2,600 shares of Norfolk Southern stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at $1,973,020. This represents a 59.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Jr. Clyburn bought 204 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the purchase, the director directly owned 405 shares in the company, valued at approximately $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 4,454 shares of company stock worth $1,259,874 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the topic of several analyst reports. TD Cowen cut their price target on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Zacks Research lowered Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. JPMorgan Chase & Co. dropped their price target on Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating on the stock in a report on Monday. Robert W. Baird set a $293.00 price target on shares of Norfolk Southern in a research report on Friday, December 5th. Finally, UBS Group lowered their price objective on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average price target of $299.85.

Norfolk Southern Company 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.