QRG Capital Management Inc. Sells 6,298 Shares of Norfolk Southern Corporation $NSC

QRG Capital Management Inc. decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 34.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,876 shares of the railroad operator’s stock after selling 6,298 shares during the quarter. QRG Capital Management Inc.’s holdings in Norfolk Southern were worth $3,568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NSC. ORG Partners LLC lifted its stake in shares of Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after purchasing an additional 36 shares during the period. BNP Paribas purchased a new stake in Norfolk Southern during the second quarter valued at approximately $26,000. True Wealth Design LLC raised its position in Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after acquiring an additional 89 shares during the period. Highline Wealth Partners LLC boosted its stake in shares of Norfolk Southern by 68.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Finally, NewSquare Capital LLC boosted its stake in shares of Norfolk Southern by 58.5% during the 2nd quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NSC. Evercore ISI upped their price objective on Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. JPMorgan Chase & Co. reduced their price target on Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $325.00 price objective on shares of Norfolk Southern in a research note on Thursday, December 18th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. Finally, Barclays increased their target price on shares of Norfolk Southern from $320.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Eight investment 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $303.52.

Norfolk Southern Stock Performance

NYSE NSC opened at $290.09 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24. The business has a 50-day moving average price of $289.61 and a 200-day moving average price of $284.19. The firm has a market cap of $65.09 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 5.09 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted its quarterly 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 return on equity of 18.93% and a net margin of 24.22%.The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the firm posted $3.25 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Insider Activity at Norfolk Southern

In related news, Director William Jr. Clyburn acquired 204 shares of the company’s stock in a transaction on Friday, December 5th. The stock was acquired at an average price of $294.79 per share, with a total value of $60,137.16. Following the acquisition, the director directly owned 405 shares of the company’s stock, valued at approximately $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Sameh Fahmy acquired 1,650 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average price of $282.97 per share, with a total value of $466,900.50. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. This represents a 15.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 4,454 shares of company stock worth $1,259,874 in the last three months. Insiders own 0.06% of the company’s stock.

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.