Skylands Capital LLC Has $17.93 Million Stake in Norfolk Southern Corporation $NSC

Skylands Capital LLC boosted its position in Norfolk Southern Corporation (NYSE:NSC) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,680 shares of the railroad operator’s stock after acquiring an additional 2,245 shares during the period. Norfolk Southern accounts for 2.5% of Skylands Capital LLC’s portfolio, making the stock its 9th largest position. Skylands Capital LLC’s holdings in Norfolk Southern were worth $17,928,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted 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 valued at $25,000 after purchasing an additional 36 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after buying an additional 58 shares during the period. BNP Paribas acquired a new position in Norfolk Southern in the second quarter valued at approximately $26,000. True Wealth Design LLC boosted its stake in Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after acquiring an additional 89 shares during the last quarter. Finally, MMA Asset Management LLC acquired a new stake in Norfolk Southern during the 3rd quarter worth $28,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Anil Bhatt sold 900 shares of Norfolk Southern stock in a transaction dated 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 $397,900.80. This trade represents a 38.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Jr. Clyburn acquired 204 shares of Norfolk Southern stock in a transaction dated Friday, December 5th. The shares were purchased at an average cost of $294.79 per share, with a total value of $60,137.16. Following the completion of the transaction, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Trading Up 3.3%

NYSE NSC opened at $315.96 on Wednesday. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $316.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The firm has a market cap of $70.90 billion, a P/E ratio of 24.78, a P/E/G ratio of 5.44 and a beta of 1.34. The stock’s 50-day moving average is $292.49 and its 200-day moving average is $287.34.

Norfolk Southern (NYSE:NSC) last posted its earnings results 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 business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.Norfolk Southern’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. Sell-side analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NSC shares. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Zacks Research downgraded Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. TD Cowen cut their target price on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. lowered their price target on Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Seven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $304.47.

About Norfolk Southern

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.