Delaney Dennis R Reduces Stock Position in Norfolk Southern Co. (NYSE:NSC)

Delaney Dennis R cut its holdings in Norfolk Southern Co. (NYSE:NSC) by 11.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,643 shares of the railroad operator’s stock after selling 757 shares during the period. Delaney Dennis R’s holdings in Norfolk Southern were worth $1,211,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NSC. Boston Partners increased its stake in shares of Norfolk Southern by 157.1% during the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after acquiring an additional 1,766,135 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Norfolk Southern by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after buying an additional 1,088,072 shares during the last quarter. Stifel Financial Corp raised its position in shares of Norfolk Southern by 600.3% during the 4th quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock worth $241,421,000 after purchasing an additional 875,473 shares during the period. American Century Companies Inc. increased its position in Norfolk Southern by 17.3% in the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after buying an additional 496,088 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in Norfolk Southern by 1,956.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 451,226 shares of the railroad operator’s stock valued at $106,661,000 after purchasing an additional 429,288 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NSC opened at $249.29 on Thursday. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a 50 day simple moving average of $242.36 and a two-hundred day simple moving average of $237.97. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The firm has a market cap of $56.32 billion, a P/E ratio of 40.14, a PEG ratio of 2.48 and a beta of 1.31.

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

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NSC. Royal Bank of Canada cut their price target on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Stifel Nicolaus raised their target price on Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a report on Friday, July 26th. Benchmark boosted their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Sanford C. Bernstein cut their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Finally, Morgan Stanley restated an “underweight” rating and set a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $264.24.

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.