Varma Mutual Pension Insurance Co Has $14.24 Million Stock Position in Norfolk Southern Corporation $NSC

Varma Mutual Pension Insurance Co grew its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 8.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 47,410 shares of the railroad operator’s stock after acquiring an additional 3,800 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Norfolk Southern were worth $14,242,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Norfolk Southern during the 2nd quarter worth $613,255,000. Holocene Advisors LP boosted its stake in shares of Norfolk Southern by 550.6% during the second quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock valued at $251,712,000 after purchasing an additional 832,210 shares in the last quarter. TOMS Capital Investment Management LP bought a new stake in shares of Norfolk Southern during the second quarter worth about $181,995,000. Assenagon Asset Management S.A. grew its holdings in shares of Norfolk Southern by 93.1% during the third quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock worth $286,154,000 after purchasing an additional 459,166 shares during the last quarter. Finally, Laurel Wealth Advisors LLC increased its stake in shares of Norfolk Southern by 25,497.0% in the second quarter. Laurel Wealth Advisors LLC now owns 428,750 shares of the railroad operator’s stock valued at $109,747,000 after buying an additional 427,075 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, 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 transaction, the executive vice president directly owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. The trade was a 38.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Jr. Clyburn acquired 204 shares of the stock in a transaction dated Friday, December 5th. The stock was bought at an average price of $294.79 per share, with a total value of $60,137.16. Following the purchase, the director directly owned 405 shares in the company, valued at $119,389.95. This represents a 101.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NSC shares. Barclays cut their target price on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Zacks Research lowered shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Robert W. Baird decreased their price objective on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Citigroup lowered their target price on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Finally, BMO Capital Markets upped their price target on Norfolk Southern from $285.00 to $305.00 and gave the company 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $304.47.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $314.56 on Friday. The company has a market capitalization of $70.64 billion, a PE ratio of 24.67, a P/E/G ratio of 5.64 and a beta of 1.34. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94. The firm has a fifty day simple moving average of $293.35 and a 200 day simple moving average of $287.74.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share 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 firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the business posted $3.04 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be paid 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 yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

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.