Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Quarry LP

Quarry LP boosted its stake in Norfolk Southern Co. (NYSE:NSC) by 378.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 875 shares of the railroad operator’s stock after buying an additional 692 shares during the period. Quarry LP’s holdings in Norfolk Southern were worth $188,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Front Row Advisors LLC increased its holdings in shares of Norfolk Southern by 2,100.0% in the 2nd quarter. Front Row Advisors LLC now owns 1,342 shares of the railroad operator’s stock worth $288,000 after acquiring an additional 1,281 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Norfolk Southern by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 29,528 shares of the railroad operator’s stock worth $6,339,000 after buying an additional 960 shares during the period. NewEdge Advisors LLC grew its holdings in Norfolk Southern by 5.1% in the 2nd quarter. NewEdge Advisors LLC now owns 16,099 shares of the railroad operator’s stock worth $3,456,000 after buying an additional 784 shares in the last quarter. Creative Planning increased its position in Norfolk Southern by 1.4% in the 2nd quarter. Creative Planning now owns 83,847 shares of the railroad operator’s stock valued at $18,001,000 after acquiring an additional 1,161 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its stake in Norfolk Southern by 32.4% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 119,767 shares of the railroad operator’s stock valued at $25,713,000 after acquiring an additional 29,318 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 0.8 %

NYSE:NSC opened at $248.50 on Tuesday. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. 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 stock has a market cap of $56.14 billion, a PE ratio of 40.02, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. The stock’s 50-day moving average is $245.36 and its two-hundred day moving average is $237.17.

Norfolk Southern (NYSE:NSC) last announced 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. 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 EPS. As a group, equities research analysts forecast that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders 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 annualized dividend and a yield of 2.17%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insiders Place Their Bets

In other news, 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the acquisition, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction 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 completion of the transaction, 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. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Benchmark increased their price target on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. 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 report on Friday, July 26th. Sanford C. Bernstein cut their target price on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Royal Bank of Canada lifted their price target on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Wells Fargo & Company upped 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $265.17.

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.