Whittier Trust Co. increased its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,915 shares of the railroad operator’s stock after buying an additional 2,832 shares during the period. Whittier Trust Co.’s holdings in Norfolk Southern Corp. were worth $8,761,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC bought a new stake in Norfolk Southern Corp. during the second quarter worth about $125,000. Savant Capital LLC bought a new stake in Norfolk Southern Corp. during the second quarter worth about $470,000. Huntington National Bank boosted its stake in Norfolk Southern Corp. by 21.9% in the second quarter. Huntington National Bank now owns 45,885 shares of the railroad operator’s stock worth $3,906,000 after buying an additional 8,231 shares in the last quarter. Burke & Herbert Bank & Trust Co. boosted its stake in Norfolk Southern Corp. by 0.6% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 13,417 shares of the railroad operator’s stock worth $1,142,000 after buying an additional 78 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Norfolk Southern Corp. by 1.1% in the second quarter. Advisory Services Network LLC now owns 7,143 shares of the railroad operator’s stock worth $608,000 after buying an additional 80 shares in the last quarter. 67.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 1.30% during trading on Wednesday, reaching $97.04. The company had a trading volume of 1,196,466 shares. The company has a market capitalization of $28.49 billion, a P/E ratio of 18.18 and a beta of 1.27. The firm has a 50-day moving average price of $93.02 and a 200-day moving average price of $87.86. Norfolk Southern Corp. has a 52-week low of $64.51 and a 52-week high of $98.75.
Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Norfolk Southern Corp. had a return on equity of 13.34% and a net margin of 15.88%. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company earned $1.41 EPS. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. On average, analysts predict that Norfolk Southern Corp. will post $5.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Monday, August 8th were issued a $0.59 dividend. The ex-dividend date was Thursday, August 4th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.46%. Norfolk Southern Corp.’s dividend payout ratio (DPR) is 44.19%.
A number of research firms recently issued reports on NSC. Zacks Investment Research cut shares of Norfolk Southern Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup Inc. lifted their price target on shares of Norfolk Southern Corp. from $87.00 to $97.00 and gave the company a “neutral” rating in a research note on Tuesday, September 13th. Barclays PLC lowered their target price on shares of Norfolk Southern Corp. from $104.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Loop Capital reaffirmed a “hold” rating on shares of Norfolk Southern Corp. in a research note on Friday, September 9th. Finally, Atlantic Securities started coverage on shares of Norfolk Southern Corp. in a research note on Thursday, August 11th. They set a “neutral” rating and a $104.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $89.49.
In other news, VP Thomas E. Hurlbut sold 1,017 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $89.30, for a total value of $90,818.10. Following the transaction, the vice president now directly owns 12,597 shares in the company, valued at approximately $1,124,912.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP James A. Hixon sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the vice president now owns 129,074 shares in the company, valued at $12,152,317.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
About Norfolk Southern Corp.
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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