Kentucky Retirement Systems Has $3.66 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Kentucky Retirement Systems lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,024 shares of the railroad operator’s stock after selling 130 shares during the period. Kentucky Retirement Systems’ holdings in Norfolk Southern were worth $3,655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Seven Eight Capital LP purchased a new position in Norfolk Southern during the 2nd quarter valued at about $1,676,000. Vanguard Personalized Indexing Management LLC grew its stake in Norfolk Southern by 15.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,961 shares of the railroad operator’s stock valued at $3,639,000 after acquiring an additional 2,246 shares in the last quarter. Tredje AP fonden grew its stake in Norfolk Southern by 12.5% during the 2nd quarter. Tredje AP fonden now owns 64,746 shares of the railroad operator’s stock valued at $13,900,000 after acquiring an additional 7,200 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Norfolk Southern by 5.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 53,474 shares of the railroad operator’s stock valued at $11,480,000 after acquiring an additional 2,845 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Norfolk Southern during the 2nd quarter valued at about $2,641,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy bought 700 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $245.15 per share, with a total value of $171,605.00. Following the acquisition, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The transaction 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 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 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 disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the topic of several research analyst reports. Sanford C. Bernstein lowered 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. Susquehanna boosted their price target on Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Stifel Nicolaus boosted their price target on Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada lowered their price target on 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, Morgan Stanley reissued an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

Norfolk Southern Stock Up 1.0 %

Shares of NSC stock opened at $251.81 on Friday. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The firm has a market cap of $56.89 billion, a PE ratio of 40.55, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The stock has a 50 day moving average of $242.98 and a 200-day moving average of $238.07. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

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

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were given a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.14%. Norfolk Southern’s dividend payout ratio (DPR) is currently 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.