Norfolk Southern Co. (NYSE:NSC) Shares Sold by Kendall Capital Management

Kendall Capital Management reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,191 shares of the railroad operator’s stock after selling 131 shares during the period. Kendall Capital Management’s holdings in Norfolk Southern were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the first quarter valued at $27,000. 1620 Investment Advisors Inc. acquired a new position in Norfolk Southern in the 2nd quarter valued at about $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern in the 2nd quarter valued at about $31,000. Rise Advisors LLC purchased a new stake in shares of Norfolk Southern during the first quarter worth about $34,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Norfolk Southern in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 1.2 %

NYSE NSC opened at $249.29 on Thursday. The stock has a market cap of $56.32 billion, a P/E ratio of 40.14, a PEG ratio of 2.48 and a beta of 1.31. The company’s fifty day simple moving average is $242.36 and its 200-day simple moving average is $237.97. 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 52 week low of $183.09 and a 52 week high of $263.66.

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

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s payout ratio is currently 86.96%.

Insider Buying and Selling

In other Norfolk Southern news, 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 directly owns 1,488 shares in the company, valued at approximately $371,077.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nabanita C. Nag sold 355 shares of the company’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 sale, the executive vice president now 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 the SEC website. Also, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of analyst reports. Benchmark raised their target price 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. 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 report on Friday, July 26th. Morgan Stanley reiterated an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Wells Fargo & Company lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Sanford C. Bernstein cut their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.