FinTrust Capital Advisors LLC lowered its stake in Norfolk Southern Corp. (NYSE:NSC) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,101 shares of the railroad operator’s stock after selling 59 shares during the period. FinTrust Capital Advisors LLC’s holdings in Norfolk Southern were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of NSC. Dimensional Fund Advisors LP boosted its holdings in shares of Norfolk Southern by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,210,893 shares of the railroad operator’s stock valued at $480,144,000 after acquiring an additional 17,877 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Norfolk Southern by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 3,364,851 shares of the railroad operator’s stock valued at $502,245,000 after acquiring an additional 221,780 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Norfolk Southern during the 1st quarter valued at about $888,000. First Manhattan Co. boosted its holdings in shares of Norfolk Southern by 0.8% during the 1st quarter. First Manhattan Co. now owns 8,546 shares of the railroad operator’s stock valued at $1,597,000 after acquiring an additional 69 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Norfolk Southern by 9.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,169 shares of the railroad operator’s stock valued at $405,000 after acquiring an additional 190 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.
In other Norfolk Southern news, Chairman James A. Squires sold 3,024 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jennifer F. Scanlon bought 525 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $191.52 per share, for a total transaction of $100,548.00. Following the purchase, the director now owns 525 shares in the company, valued at approximately $100,548. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on the stock. Goldman Sachs Group assumed coverage on shares of Norfolk Southern in a report on Wednesday, July 10th. They set a “buy” rating and a $237.00 price target on the stock. Barclays raised their price objective on shares of Norfolk Southern from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. ValuEngine downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 price objective on the stock in a report on Thursday, May 9th. Finally, Loop Capital raised their price objective on shares of Norfolk Southern to $237.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $205.83.
Shares of NSC traded down $1.03 on Thursday, reaching $170.06. The company’s stock had a trading volume of 58,974 shares, compared to its average volume of 2,340,664. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $44.91 billion, a PE ratio of 17.88, a P/E/G ratio of 1.41 and a beta of 1.31. The company’s 50 day moving average price is $192.28. Norfolk Southern Corp. has a 12-month low of $138.65 and a 12-month high of $211.46.
Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, July 24th. The railroad operator reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.07). Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the business posted $2.50 EPS. Norfolk Southern’s revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Norfolk Southern Corp. will post 10.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.94 per share. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $3.76 dividend on an annualized basis and a yield of 2.21%. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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