Victory Capital Management Inc. Grows Stake in Norfolk Southern (NSC)

Victory Capital Management Inc. lifted its stake in shares of Norfolk Southern (NYSE:NSC) by 613.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,140 shares of the railroad operator’s stock after purchasing an additional 126,525 shares during the period. Victory Capital Management Inc. owned about 0.05% of Norfolk Southern worth $19,979,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in NSC. Arcadia Investment Management Corp MI increased its stake in shares of Norfolk Southern by 165.1% during the fourth quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock worth $121,000 after purchasing an additional 520 shares in the last quarter. NuWave Investment Management LLC purchased a new stake in shares of Norfolk Southern during the first quarter worth about $124,000. Certified Advisory Corp purchased a new stake in shares of Norfolk Southern during the fourth quarter worth about $137,000. Welch Investments LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth about $156,000. Finally, Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in shares of Norfolk Southern during the fourth quarter worth about $163,000. 72.96% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern opened at $152.49 on Friday, Marketbeat.com reports. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $43.08 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.48 and a beta of 1.31. Norfolk Southern has a 1-year low of $111.44 and a 1-year high of $157.15.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, April 25th. The railroad operator reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.16. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.68 billion. Norfolk Southern had a net margin of 51.65% and a return on equity of 14.04%. Norfolk Southern’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 EPS. equities analysts expect that Norfolk Southern will post 8.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 4th will be issued a $0.72 dividend. The ex-dividend date is Thursday, May 3rd. This represents a $2.88 annualized dividend and a yield of 1.89%. Norfolk Southern’s payout ratio is 43.57%.

NSC has been the subject of a number of research reports. Royal Bank of Canada raised shares of Norfolk Southern from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, January 24th. Cowen reissued an “outperform” rating and set a $165.00 target price (up previously from $143.00) on shares of Norfolk Southern in a research note on Thursday, January 25th. Credit Suisse Group boosted their target price on shares of Norfolk Southern from $177.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley boosted their price target on shares of Norfolk Southern from $77.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase lowered their price target on shares of Norfolk Southern from $154.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. Norfolk Southern presently has an average rating of “Hold” and a consensus target price of $144.90.

In other Norfolk Southern news, VP Thomas E. Hurlbut sold 2,760 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $152.00, for a total value of $419,520.00. Following the transaction, the vice president now directly owns 2,760 shares in the company, valued at approximately $419,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cynthia C. Earhart sold 6,588 shares of the business’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $150.93, for a total transaction of $994,326.84. Following the completion of the transaction, the chief financial officer now owns 6,588 shares in the company, valued at $994,326.84. The disclosure for this sale can be found here. Insiders sold a total of 14,110 shares of company stock worth $2,118,405 over the last quarter. 0.36% of the stock is currently owned by company insiders.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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