Amalgamated Bank Sells 971 Shares of Norfolk Southern Co. (NYSE:NSC)

Amalgamated Bank trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,648 shares of the railroad operator’s stock after selling 971 shares during the period. Amalgamated Bank’s holdings in Norfolk Southern were worth $9,800,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the purchase, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Sameh Fahmy purchased 700 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Up 1.2 %

NSC stock opened at $249.29 on Thursday. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. 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 firm’s fifty day moving average is $242.36 and its 200 day moving average is $237.97. The firm has a market cap of $56.32 billion, a PE ratio of 40.14, a P/E/G ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS 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 analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.95 EPS. On average, research analysts forecast that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Analyst Ratings Changes

NSC has been the topic of a number of recent analyst reports. Susquehanna upped their price target on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Morgan Stanley restated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. TD Cowen boosted their price target on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Benchmark lifted their target price on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company increased their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

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.