Parametric Portfolio Associates LLC lifted its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 820,967 shares of the railroad operator’s stock after buying an additional 10,853 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.31% of Norfolk Southern worth $163,643,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. MUFG Securities EMEA plc acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $3,189,000. MML Investors Services LLC lifted its stake in Norfolk Southern by 1.7% in the 2nd quarter. MML Investors Services LLC now owns 11,951 shares of the railroad operator’s stock valued at $2,382,000 after buying an additional 199 shares in the last quarter. Natixis grew its holdings in Norfolk Southern by 384.3% during the 2nd quarter. Natixis now owns 42,222 shares of the railroad operator’s stock valued at $8,416,000 after buying an additional 33,503 shares during the last quarter. LLBH Private Wealth Management LLC acquired a new stake in Norfolk Southern during the 2nd quarter valued at $211,000. Finally, Ossiam purchased a new position in Norfolk Southern during the second quarter worth $548,000. Institutional investors and hedge funds own 72.28% of the company’s stock.
A number of research analysts have issued reports on NSC shares. ValuEngine lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Cascend Securities lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. TD Securities reduced their target price on shares of Norfolk Southern from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Deutsche Bank reduced their price target on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating on the stock in a research report on Wednesday, June 12th. Finally, Bank of America upped their price objective on shares of Norfolk Southern from $212.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Two equities research 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. Norfolk Southern presently has an average rating of “Hold” and a consensus target price of $206.39.
In related news, Director Jennifer F. Scanlon acquired 525 shares of the stock in a transaction dated Monday, July 29th. The stock was bought at an average price of $191.52 per share, with a total value of $100,548.00. Following the completion of the transaction, the director now directly owns 525 shares of the company’s stock, valued at $100,548. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.
NSC traded down $2.40 during midday trading on Wednesday, reaching $176.19. 1,190,602 shares of the company’s stock were exchanged, compared to its average volume of 1,365,859. Norfolk Southern Corp. has a one year low of $138.65 and a one year high of $211.46. The firm has a market capitalization of $46.71 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 1.48 and a beta of 1.34. The business has a 50-day simple moving average of $178.07 and a two-hundred day simple moving average of $190.20. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.72.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 24th. The railroad operator reported $2.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.77 by ($0.07). The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.95 billion. Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. Norfolk Southern’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $2.50 EPS. As a group, research analysts anticipate that Norfolk Southern Corp. will post 10.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date was Friday, August 2nd. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.13%. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.
About Norfolk Southern
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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