FinTrust Capital Advisors LLC reduced its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,101 shares of the railroad operator’s stock after selling 59 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Norfolk Southern were worth $419,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of NSC. Hayden Royal LLC raised its holdings in shares of Norfolk Southern by 16.3% in the second quarter. Hayden Royal LLC now owns 1,297 shares of the railroad operator’s stock valued at $261,000 after acquiring an additional 182 shares in the last quarter. ARP Americas LP bought a new stake in shares of Norfolk Southern in the first quarter valued at about $299,000. Family Firm Inc. bought a new stake in shares of Norfolk Southern in the first quarter valued at about $218,000. BB&T Corp raised its holdings in shares of Norfolk Southern by 6.0% in the first 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 in the last quarter. Finally, Haverford Trust Co. raised its holdings in shares of Norfolk Southern by 20.3% in the first 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 in the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on NSC shares. Loop Capital boosted their target price on shares of Norfolk Southern to $237.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Cascend Securities downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. ValuEngine downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Cowen reiterated an “outperform” rating and issued a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Finally, Zacks Investment Research upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 target price for the company in a report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $205.83.
Shares of NSC traded down $1.03 during mid-day trading on Thursday, hitting $170.06. 58,974 shares of the company traded hands, compared to its average volume of 2,340,664. Norfolk Southern Corp. has a 1-year low of $138.65 and a 1-year high of $211.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.78 and a quick ratio of 0.68. The company has a market capitalization of $44.91 billion, a P/E ratio of 17.88, a PEG ratio of 1.41 and a beta of 1.31. The firm’s 50 day simple moving average is $192.28.
Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data 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 net margin of 24.15% and a return on equity of 18.24%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the company earned $2.50 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts predict that Norfolk Southern Corp. will post 10.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, August 2nd. This represents a $3.76 annualized dividend and a dividend yield of 2.21%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.86. Norfolk Southern’s dividend payout ratio is 39.54%.
Norfolk Southern Company 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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