Mn Services Vermogensbeheer B.V. decreased its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,868 shares of the railroad operator’s stock after selling 17,000 shares during the quarter. Mn Services Vermogensbeheer B.V. owned about 0.05% of Norfolk Southern worth $27,481,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of NSC. Weaver Consulting Group purchased a new stake in shares of Norfolk Southern in the 1st quarter valued at $30,000. Advisory Alpha LLC purchased a new stake in shares of Norfolk Southern in the 1st quarter valued at $42,000. Contravisory Investment Management Inc. boosted its holdings in shares of Norfolk Southern by 18.4% in the 2nd quarter. Contravisory Investment Management Inc. now owns 360 shares of the railroad operator’s stock valued at $72,000 after acquiring an additional 56 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Norfolk Southern in the 1st quarter valued at $75,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Norfolk Southern in the 1st quarter valued at $77,000. Institutional investors and hedge funds own 73.30% of the company’s stock.
Shares of NYSE NSC opened at $182.02 on Monday. The business’s fifty day moving average price is $196.18. Norfolk Southern Corp. has a 1 year low of $138.65 and a 1 year high of $211.46. The stock has a market capitalization of $47.95 billion, a P/E ratio of 19.14, a PEG ratio of 1.47 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.78 and a quick ratio of 0.68.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.07). Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the company posted $2.50 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that Norfolk Southern Corp. will post 10.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, August 2nd. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a yield of 2.07%. Norfolk Southern’s dividend payout ratio is 36.17%.
Several research firms have recently commented on NSC. Morgan Stanley set a $130.00 price objective on shares of Norfolk Southern and gave the company a “sell” rating in a report on Monday, July 8th. TD Securities dropped their price objective on shares of Norfolk Southern from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 price objective on the stock in a report on Thursday, May 9th. Cascend Securities downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays upped their price objective on shares of Norfolk Southern from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $205.83.
In other Norfolk Southern news, Chairman James A. Squires sold 3,024 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jennifer F. Scanlon acquired 525 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the completion of the acquisition, the director now owns 525 shares of the company’s stock, valued at $100,548. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.
Norfolk Southern Company 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.
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