ExodusPoint Capital Management LP Invests $14.58 Million in Norfolk Southern Co. (NYSE:NSC)

ExodusPoint Capital Management LP purchased a new position in Norfolk Southern Co. (NYSE:NSC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 62,121 shares of the railroad operator's stock, valued at approximately $14,580,000.

Several other hedge funds have also recently added to or reduced their stakes in NSC. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator's stock worth $435,000 after acquiring an additional 41 shares during the last quarter. Albert D Mason Inc. increased its holdings in shares of Norfolk Southern by 0.7% in the fourth quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator's stock valued at $1,615,000 after purchasing an additional 46 shares during the last quarter. Signal Advisors Wealth LLC raised its position in shares of Norfolk Southern by 5.4% in the fourth quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator's stock valued at $225,000 after purchasing an additional 49 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Norfolk Southern by 2.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,507 shares of the railroad operator's stock worth $588,000 after buying an additional 49 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its holdings in shares of Norfolk Southern by 0.9% during the 4th quarter. Leavell Investment Management Inc. now owns 5,816 shares of the railroad operator's stock worth $1,365,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

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Analysts Set New Price Targets

NSC has been the topic of several research analyst reports. Robert W. Baird increased their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Barclays decreased their price objective on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their target price on Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Royal Bank of Canada lifted their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $268.68.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the firm's stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.19% of the stock is owned by insiders.

Norfolk Southern Price Performance

Shares of NSC stock traded up $15.75 during trading hours on Wednesday, reaching $222.09. The company's stock had a trading volume of 3,668,098 shares, compared to its average volume of 1,243,802. Norfolk Southern Co. has a fifty-two week low of $201.63 and a fifty-two week high of $277.60. The firm's 50 day simple moving average is $238.59 and its 200-day simple moving average is $247.11. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $54.76 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Sell-side analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Friday, February 7th. Norfolk Southern's dividend payout ratio is 46.71%.

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.