Pendal Group Ltd lowered its holdings in Norfolk Southern Corp. (NYSE:NSC) by 3.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 24,334 shares of the railroad operator’s stock after selling 756 shares during the quarter. Pendal Group Ltd’s holdings in Norfolk Southern were worth $4,838,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC purchased a new position in shares of Norfolk Southern in the first quarter valued at $25,000. Weaver Consulting Group purchased a new position in shares of Norfolk Southern in the first quarter valued at $30,000. AGF Investments LLC boosted its stake in shares of Norfolk Southern by 173.5% in the second quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Coastal Capital Group Inc. purchased a new position in shares of Norfolk Southern in the second quarter valued at $40,000. Finally, Advisory Alpha LLC purchased a new position in shares of Norfolk Southern in the first quarter valued at $42,000. 73.49% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on NSC. Cascend Securities downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. ValuEngine downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley set a $130.00 target price on shares of Norfolk Southern and gave the company a “sell” rating in a research note on Monday, July 8th. Barclays increased their price objective on shares of Norfolk Southern from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, Cowen reiterated an “outperform” rating and set a $230.00 price objective (up from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. Norfolk Southern has a consensus rating of “Hold” and an average target price of $205.83.
NSC traded down $6.17 during midday trading on Wednesday, hitting $171.33. 43,541 shares of the company’s stock traded hands, compared to its average volume of 1,682,423. The stock has a market capitalization of $45.98 billion, a P/E ratio of 18.24, a PEG ratio of 1.44 and a beta of 1.31. The company’s fifty day moving average price is $192.67. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.72. Norfolk Southern Corp. has a one year low of $138.65 and a one year high of $211.46.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.77 by ($0.07). The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.95 billion. Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. Norfolk Southern’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.50 EPS. On average, equities analysts forecast that Norfolk Southern Corp. will post 10.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, August 2nd. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.86. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.
In other Norfolk Southern news, Director Jennifer F. Scanlon acquired 525 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of $191.52 per share, with a total value of $100,548.00. Following the completion of the transaction, the director now owns 525 shares in the company, valued at $100,548. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman James A. Squires sold 3,024 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
Recommended Story: Outstanding Shares and The Effect on Share Price
Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corp. (NYSE:NSC).
Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.