Semmax Financial Advisors Inc. reduced its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 38.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241 shares of the railroad operator’s stock after selling 148 shares during the period. Semmax Financial Advisors Inc.’s holdings in Norfolk Southern were worth $48,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of NSC. JPMorgan Chase & Co. increased its position in Norfolk Southern by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 12,864,410 shares of the railroad operator’s stock worth $2,404,230,000 after buying an additional 430,110 shares during the period. FMR LLC increased its position in Norfolk Southern by 27.4% in the first quarter. FMR LLC now owns 9,875,360 shares of the railroad operator’s stock worth $1,845,606,000 after buying an additional 2,123,713 shares during the period. Lazard Asset Management LLC increased its position in Norfolk Southern by 27.7% in the first quarter. Lazard Asset Management LLC now owns 7,333,967 shares of the railroad operator’s stock worth $1,370,644,000 after buying an additional 1,592,303 shares during the period. Geode Capital Management LLC increased its position in Norfolk Southern by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 3,364,851 shares of the railroad operator’s stock worth $502,245,000 after buying an additional 221,780 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Norfolk Southern by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,210,893 shares of the railroad operator’s stock worth $480,144,000 after buying an additional 17,877 shares during the period. 73.26% of the stock is currently owned by institutional investors and hedge funds.
In other Norfolk Southern news, Director Jennifer F. Scanlon purchased 525 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was bought at an average price of $191.52 per share, with a total value of $100,548.00. Following the completion of the purchase, the director now owns 525 shares in the company, valued at approximately $100,548. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.
Several equities research analysts have weighed in on NSC shares. Argus increased their target price on Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. ValuEngine lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 target price on the stock in a research report on Thursday, May 9th. TD Securities dropped their target price on Norfolk Southern from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Morgan Stanley set a $130.00 target price on Norfolk Southern and gave the stock a “sell” rating in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $205.83.
Shares of NYSE:NSC traded down $4.51 on Friday, hitting $169.28. The company’s stock had a trading volume of 1,571,376 shares, compared to its average volume of 1,800,790. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46. The company has a market capitalization of $45.78 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31. The stock’s 50-day moving average is $187.59 and its two-hundred day moving average is $190.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 0.78.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company posted $2.50 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Corp. will post 10.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 5th will be paid a $0.94 dividend. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $3.76 annualized dividend and a dividend yield of 2.22%. Norfolk Southern’s dividend payout ratio is presently 39.54%.
About Norfolk Southern
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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