Norfolk Southern Corp. (NSC) Position Boosted by Personal Capital Advisors Corp

Personal Capital Advisors Corp boosted its stake in Norfolk Southern Corp. (NYSE:NSC) by 6.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,999 shares of the railroad operator’s stock after buying an additional 13,631 shares during the period. Personal Capital Advisors Corp’s holdings in Norfolk Southern were worth $36,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dana Investment Advisors Inc. lifted its holdings in Norfolk Southern by 761.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 138,072 shares of the railroad operator’s stock valued at $20,831,000 after acquiring an additional 122,049 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Norfolk Southern by 5,739.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,635 shares of the railroad operator’s stock valued at $247,000 after acquiring an additional 1,607 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Norfolk Southern by 5.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 898,104 shares of the railroad operator’s stock valued at $135,497,000 after acquiring an additional 47,592 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in Norfolk Southern in the 2nd quarter valued at about $102,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Norfolk Southern in the 2nd quarter valued at about $14,752,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.

In other news, COO Michael Joseph Wheeler sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $151.33, for a total value of $302,660.00. Following the completion of the sale, the chief operating officer now owns 10,207 shares of the company’s stock, valued at approximately $1,544,625.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas E. Hurlbut sold 2,760 shares of the stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $152.00, for a total transaction of $419,520.00. Following the completion of the sale, the vice president now directly owns 2,760 shares of the company’s stock, valued at approximately $419,520. The disclosure for this sale can be found here. In the last three months, insiders sold 11,348 shares of company stock valued at $1,716,507. Corporate insiders own 0.36% of the company’s stock.

NSC stock traded down $0.16 during mid-day trading on Thursday, reaching $167.77. 6,861 shares of the stock traded hands, compared to its average volume of 1,840,614. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. Norfolk Southern Corp. has a 52-week low of $111.44 and a 52-week high of $172.81. The firm has a market capitalization of $47.33 billion, a PE ratio of 25.41, a P/E/G ratio of 1.56 and a beta of 1.39.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.19. Norfolk Southern had a net margin of 52.36% and a return on equity of 14.53%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the firm earned $1.71 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. equities research analysts anticipate that Norfolk Southern Corp. will post 9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Monday, August 6th will be paid a $0.80 dividend. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.91%. Norfolk Southern’s dividend payout ratio is 43.57%.

A number of equities research analysts have weighed in on the stock. BMO Capital Markets upped their price target on shares of Norfolk Southern from $156.00 to $160.00 and gave the company a “market perform” rating in a report on Thursday, April 26th. Scotiabank set a $175.00 price target on shares of Norfolk Southern and gave the company a “buy” rating in a report on Wednesday, July 25th. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $159.00 to $176.00 and gave the company a “hold” rating in a report on Thursday, July 26th. ValuEngine raised shares of Norfolk Southern from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Finally, Zacks Investment Research raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $157.74.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

Featured Article: Dividend Stocks – Are They Right For You?

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).

Institutional Ownership by Quarter for Norfolk Southern (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.

Leave a Reply