Speece Thorson Capital Group Inc. lessened its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,820 shares of the railroad operator’s stock after selling 115 shares during the quarter. Speece Thorson Capital Group Inc.’s holdings in Norfolk Southern were worth $4,349,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. ARP Americas LP acquired a new stake in Norfolk Southern during the 1st quarter worth $299,000. Family Firm Inc. acquired a new position in shares of Norfolk Southern during the 1st quarter valued at about $218,000. BB&T Corp boosted its position in shares of Norfolk Southern by 6.0% during the 1st quarter. BB&T Corp now owns 81,679 shares of the railroad operator’s stock valued at $15,265,000 after acquiring an additional 4,639 shares during the last quarter. Haverford Trust Co. boosted its position in shares of Norfolk Southern by 20.3% during the 1st quarter. Haverford Trust Co. now owns 17,375 shares of the railroad operator’s stock valued at $3,247,000 after acquiring an additional 2,935 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Norfolk Southern during the 1st quarter valued at about $5,635,000. 73.30% of the stock is currently owned by institutional investors.
NSC traded down $2.81 on Friday, hitting $177.70. The company had a trading volume of 1,589,450 shares, compared to its average volume of 2,298,959. The stock has a market cap of $47.16 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.45 and a beta of 1.31. Norfolk Southern Corp. has a 1 year low of $138.65 and a 1 year high of $211.46. The stock’s fifty day simple moving average is $194.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 0.78.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 5th will be issued a $0.94 dividend. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s payout ratio is 39.54%.
Several research analysts have recently weighed in on the stock. Loop Capital boosted their price target on shares of Norfolk Southern to $237.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. ValuEngine cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Cascend Securities cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. TD Securities lowered their price target on shares of 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, Cowen reissued an “outperform” rating and set a $230.00 price target (up previously from $200.00) on shares of Norfolk Southern in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $205.83.
In related news, Director Jennifer F. Scanlon acquired 525 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the acquisition, the director now owns 525 shares in the company, valued at $100,548. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman James A. Squires sold 3,024 shares of the business’s stock in a transaction dated 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 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.
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