XTX Topco Ltd Increases Holdings in Norfolk Southern Co. (NYSE:NSC)

XTX Topco Ltd raised its stake in Norfolk Southern Co. (NYSE:NSC) by 267.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,110 shares of the railroad operator’s stock after acquiring an additional 3,720 shares during the quarter. XTX Topco Ltd’s holdings in Norfolk Southern were worth $1,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cedar Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the first quarter valued at about $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern in the 2nd quarter worth approximately $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the second quarter valued at approximately $31,000. Rise Advisors LLC purchased a new stake in shares of Norfolk Southern during the first quarter valued at approximately $34,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Norfolk Southern during the second quarter worth $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.6 %

Shares of NYSE:NSC opened at $247.86 on Friday. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company’s fifty day moving average is $243.51 and its two-hundred day moving average is $237.85. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The stock has a market capitalization of $56.00 billion, a price-to-earnings ratio of 39.91, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. Norfolk Southern’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $2.95 earnings per share. Equities analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern’s payout ratio is currently 86.96%.

Analysts Set New Price Targets

Several research firms recently issued reports on NSC. Royal Bank of Canada dropped their price target on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Sanford C. Bernstein reduced their price target on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Morgan Stanley restated an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. Finally, Benchmark increased their target price on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $264.24.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.