Caprock Group LLC Invests $2.43 Million in Norfolk Southern Corporation $NSC

Caprock Group LLC bought a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 8,679 shares of the railroad operator’s stock, valued at approximately $2,430,000.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on NSC. TD Cowen dropped their price objective on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price target for the stock from $354.00 to $297.00 in a research report on Thursday, December 11th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Friday, January 30th. Evercore upped their price objective on Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Finally, BMO Capital Markets raised their target price on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $304.47.

Insider Activity

In other news, EVP Anil Bhatt sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the transaction, the executive vice president directly owned 1,413 shares in the company, valued at approximately $397,900.80. This represents a 38.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Jr. Clyburn purchased 204 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were bought at an average cost 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 of the company’s stock, valued at $119,389.95. The trade was a 101.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by corporate insiders.

Norfolk Southern Stock Performance

NYSE NSC opened at $314.56 on Friday. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $319.94. The company has a 50 day moving average of $293.35 and a 200-day moving average of $287.74. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The firm has a market cap of $70.64 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 5.64 and a beta of 1.34.

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

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis 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%.

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.