Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lifted its position in Norfolk Southern Co. (NYSE:NSC) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,961 shares of the railroad operator’s stock after purchasing an additional 2,246 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Norfolk Southern were worth $3,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the 1st quarter worth about $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the second quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in Norfolk Southern in the first quarter valued at approximately $34,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the second quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $34,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NYSE NSC opened at $251.81 on Friday. 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’s fifty day moving average is $242.98 and its two-hundred day moving average is $238.07. The firm has a market capitalization of $56.89 billion, a P/E ratio of 40.55, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66.

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

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.14%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NSC shares. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. Royal Bank of Canada cut their target price on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Susquehanna upped their price target on shares of Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. TD Cowen lifted their price objective on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Sanford C. Bernstein reduced their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.24.

About Norfolk Southern

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.