Stanley Laman Group Ltd. Trims Holdings in Norfolk Southern Corp. (NYSE:NSC)

Stanley Laman Group Ltd. decreased its holdings in Norfolk Southern Corp. (NYSE:NSC) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,506 shares of the railroad operator’s stock after selling 366 shares during the period. Norfolk Southern comprises approximately 1.4% of Stanley Laman Group Ltd.’s holdings, making the stock its 11th largest holding. Stanley Laman Group Ltd.’s holdings in Norfolk Southern were worth $5,682,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Joseph P. Lucia & Associates LLC purchased a new position in shares of Norfolk Southern during the first quarter valued at $25,000. Weaver Consulting Group purchased a new position in Norfolk Southern in the first quarter valued at about $30,000. AGF Investments LLC grew its stake in Norfolk Southern by 173.5% in the second quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after purchasing an additional 118 shares during the last quarter. Coastal Capital Group Inc. purchased a new position in Norfolk Southern in the second quarter valued at about $40,000. Finally, Advisory Alpha LLC purchased a new position in Norfolk Southern in the first quarter valued at about $42,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

NYSE NSC traded down $1.10 during trading on Wednesday, hitting $173.44. The company’s stock had a trading volume of 298,020 shares, compared to its average volume of 1,682,423. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $45.98 billion, a P/E ratio of 18.24, a PEG ratio of 1.44 and a beta of 1.31. The firm’s 50 day moving average is $192.67. Norfolk Southern Corp. has a fifty-two week low of $138.65 and a fifty-two week high of $211.46.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.77 by ($0.07). The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.95 billion. Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. Norfolk Southern’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. On average, research analysts forecast 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. Shareholders of record on Monday, August 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, August 2nd. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.86. Norfolk Southern’s dividend payout ratio (DPR) is currently 39.54%.

NSC has been the topic of several analyst reports. Deutsche Bank cut their target price on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating on the stock in a research note on Wednesday, June 12th. Argus lifted their target price on Norfolk Southern from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Morgan Stanley set a $130.00 target price on Norfolk Southern and gave the company a “sell” rating in a research note on Monday, July 8th. Goldman Sachs Group initiated coverage on Norfolk Southern in a research note on Wednesday, July 10th. They issued a “buy” rating and a $237.00 target price on the stock. Finally, Cascend Securities lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s 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 firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total value of $619,043.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer F. Scanlon purchased 525 shares of the stock in a transaction on Monday, July 29th. The stock was acquired at an average cost of $191.52 per share, with a total value of $100,548.00. Following the acquisition, the director now owns 525 shares of the company’s stock, valued at approximately $100,548. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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