Skylands Capital LLC Acquires 2,245 Shares of Norfolk Southern Corporation $NSC

Skylands Capital LLC increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,680 shares of the railroad operator’s stock after purchasing an additional 2,245 shares during the quarter. Norfolk Southern makes up about 2.5% of Skylands Capital LLC’s investment portfolio, making the stock its 9th biggest holding. Skylands Capital LLC’s holdings in Norfolk Southern were worth $17,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Norfolk Southern by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock valued at $5,263,069,000 after acquiring an additional 239,914 shares in the last quarter. Dodge & Cox grew its stake in Norfolk Southern by 1.8% in the second quarter. Dodge & Cox now owns 10,859,121 shares of the railroad operator’s stock valued at $2,779,609,000 after purchasing an additional 192,567 shares in the last quarter. Geode Capital Management LLC grew its stake in Norfolk Southern by 0.8% in the second quarter. Geode Capital Management LLC now owns 4,822,075 shares of the railroad operator’s stock valued at $1,228,064,000 after purchasing an additional 36,362 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Norfolk Southern by 4.6% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock worth $1,070,702,000 after purchasing an additional 184,586 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Norfolk Southern by 6.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock worth $841,994,000 after purchasing an additional 201,861 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NSC opened at $315.96 on Wednesday. The company’s 50-day moving average is $292.49 and its 200-day moving average is $287.34. 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 capitalization of $70.90 billion, a PE ratio of 24.78, a PEG ratio of 5.44 and a beta of 1.34. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $316.24.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping the consensus estimate of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. Norfolk Southern’s revenue was down 1.7% compared to the same quarter last year. Equities analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be given a $1.35 dividend. 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 presently 42.35%.

Insider Activity at Norfolk Southern

In other news, Director William Jr. Clyburn purchased 204 shares of Norfolk Southern stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anil Bhatt sold 900 shares of the stock in a transaction 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 owned 1,413 shares in the company, valued at $397,900.80. The trade was a 38.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NSC shares. Barclays decreased their target price on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Robert W. Baird decreased their price objective on shares of Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Norfolk Southern in a report on Thursday, January 22nd. Finally, BMO Capital Markets lifted their price target on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $304.47.

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.