Marshall Wace LLP Sells 157,205 Shares of Norfolk Southern Co. (NYSE:NSC)

Marshall Wace LLP lessened its holdings in Norfolk Southern Co. (NYSE:NSC) by 20.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 623,935 shares of the railroad operator’s stock after selling 157,205 shares during the quarter. Marshall Wace LLP owned 0.28% of Norfolk Southern worth $133,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Norfolk Southern during the second quarter worth $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the second quarter worth $31,000. Rise Advisors LLC purchased a new position in shares of Norfolk Southern in the first quarter valued at $34,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at $34,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

NSC opened at $245.99 on Tuesday. The stock’s 50 day moving average price is $243.88 and its 200-day moving average price is $237.67. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The stock has a market capitalization of $55.57 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

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

Norfolk Southern Announces Dividend

The firm also recently announced 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Analysts Set New Price Targets

NSC has been the topic of several analyst reports. TD Cowen upped their price target on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. 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. 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 report on Friday, July 26th. Stifel Nicolaus lifted their price objective on Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Sanford C. Bernstein decreased their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $264.24.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares in the company, valued at $1,887,655. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Sameh Fahmy bought 700 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Anderson purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $742,440. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.