Norfolk Southern Co. (NYSE:NSC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 344,753 shares of the railroad operator’s stock after selling 3,692 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of Norfolk Southern worth $74,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Cedar Wealth Management LLC purchased a new position in Norfolk Southern in the first quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern in the second quarter valued at $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern in the second quarter valued at $31,000. Rise Advisors LLC purchased a new position in Norfolk Southern in the first quarter valued at $34,000. Finally, Hobbs Group Advisors LLC purchased a new position in Norfolk Southern in the second quarter valued at $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NSC shares. 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 report on Monday, July 8th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley reissued an “underweight” rating and set a $175.00 target price 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. Finally, TD Cowen boosted their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. One 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 company’s stock. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus target price of $264.24.

Insider Buying and Selling at Norfolk Southern

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

Norfolk Southern Stock Performance

NYSE:NSC opened at $246.24 on Wednesday. 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 capitalization of $55.63 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 2.48 and a beta of 1.31. The company’s 50-day moving average is $241.67 and its two-hundred day moving average is $237.89. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last posted 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 company 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%. Norfolk Southern’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 EPS. Analysts forecast that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.19%. Norfolk Southern’s payout ratio is 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.