Panagora Asset Management Inc. Trims Holdings in Norfolk Southern Co. (NYSE:NSC)

Panagora Asset Management Inc. decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 41.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,092 shares of the railroad operator’s stock after selling 1,472 shares during the period. Panagora Asset Management Inc.’s holdings in Norfolk Southern were worth $449,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NSC. Great Valley Advisor Group Inc. purchased a new position in Norfolk Southern during the fourth quarter valued at approximately $221,000. Spire Wealth Management grew its position in shares of Norfolk Southern by 3.9% during the 4th quarter. Spire Wealth Management now owns 7,114 shares of the railroad operator’s stock valued at $1,665,000 after purchasing an additional 264 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Norfolk Southern by 2.6% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock worth $397,000 after purchasing an additional 43 shares during the period. Maryland State Retirement & Pension System raised its position in shares of Norfolk Southern by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 17,685 shares of the railroad operator’s stock worth $4,180,000 after buying an additional 331 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Norfolk Southern by 12.5% during the fourth quarter. Apollon Wealth Management LLC now owns 12,173 shares of the railroad operator’s stock valued at $2,877,000 after buying an additional 1,351 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction on 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sameh Fahmy acquired 700 shares of the stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the acquisition, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The disclosure for this purchase can be found here. Insiders acquired 4,700 shares of company stock valued at $1,105,065 in the last 90 days. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. 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. Morgan Stanley restated an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Stifel Nicolaus lifted their target price on shares of Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Susquehanna boosted their price target on shares of Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Barclays lowered their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

Norfolk Southern Stock Performance

NYSE:NSC opened at $254.47 on Wednesday. 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 Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The business has a 50 day moving average price of $234.05 and a 200-day moving average price of $238.07. The firm has a market cap of $57.49 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.32.

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 business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the company posted $2.95 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts predict that Norfolk Southern Co. will post 11.8 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.12%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Norfolk Southern Company 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.