Norfolk Southern Co. (NYSE:NSC) Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV lessened its position in Norfolk Southern Co. (NYSE:NSC) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,736 shares of the railroad operator’s stock after selling 359 shares during the period. Resources Management Corp CT ADV’s holdings in Norfolk Southern were worth $1,017,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Interval Partners LP acquired a new position in shares of Norfolk Southern in the second quarter valued at approximately $5,108,000. Magnetar Financial LLC raised its position in shares of Norfolk Southern by 26.6% in the second quarter. Magnetar Financial LLC now owns 22,166 shares of the railroad operator’s stock valued at $4,759,000 after buying an additional 4,662 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Norfolk Southern by 25.1% in the second quarter. Public Sector Pension Investment Board now owns 18,307 shares of the railroad operator’s stock valued at $3,930,000 after buying an additional 3,676 shares during the last quarter. Edge Capital Group LLC raised its position in shares of Norfolk Southern by 15.0% in the second quarter. Edge Capital Group LLC now owns 45,155 shares of the railroad operator’s stock valued at $9,694,000 after buying an additional 5,904 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in Norfolk Southern by 3.5% during the second quarter. Epoch Investment Partners Inc. now owns 6,424 shares of the railroad operator’s stock worth $1,379,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NSC shares. Royal Bank of Canada dropped their price target on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Morgan Stanley reaffirmed an “underweight” rating and set a $175.00 price target on shares of Norfolk Southern in a research report on Monday, July 8th. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research 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 research report on Friday, July 26th. Finally, Benchmark upped their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $264.24.

Insider Activity

In related news, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the 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 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. Insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock opened at $245.99 on Tuesday. The company 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 firm has a fifty day simple moving average of $243.88 and a 200-day simple moving average of $237.67. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66.

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 the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 earnings per share. Equities research analysts anticipate that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.20%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

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.