Reynders McVeigh Capital Management LLC Reduces Stock Holdings in Norfolk Southern Corp. (NYSE:NSC)

Reynders McVeigh Capital Management LLC reduced its stake in Norfolk Southern Corp. (NYSE:NSC) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,018 shares of the railroad operator’s stock after selling 200 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Norfolk Southern were worth $1,598,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Norfolk Southern by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 12,864,410 shares of the railroad operator’s stock valued at $2,404,230,000 after purchasing an additional 430,110 shares during the last quarter. FMR LLC increased its stake in Norfolk Southern by 27.4% in the first quarter. FMR LLC now owns 9,875,360 shares of the railroad operator’s stock valued at $1,845,606,000 after purchasing an additional 2,123,713 shares during the last quarter. Lazard Asset Management LLC increased its stake in Norfolk Southern by 27.7% in the first quarter. Lazard Asset Management LLC now owns 7,333,967 shares of the railroad operator’s stock valued at $1,370,644,000 after purchasing an additional 1,592,303 shares during the last quarter. Geode Capital Management LLC increased its stake in Norfolk Southern by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 3,364,851 shares of the railroad operator’s stock valued at $502,245,000 after purchasing an additional 221,780 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Norfolk Southern by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,210,893 shares of the railroad operator’s stock valued at $480,144,000 after purchasing an additional 17,877 shares during the last quarter. Institutional investors own 73.26% of the company’s stock.

Shares of NSC stock traded down $4.51 during trading hours on Friday, hitting $169.28. The stock had a trading volume of 1,571,376 shares, compared to its average volume of 1,863,763. The firm has a market capitalization of $45.89 billion, a PE ratio of 17.80, a PEG ratio of 1.41 and a beta of 1.31. Norfolk Southern Corp. has a twelve month low of $138.65 and a twelve month high of $211.46. The stock’s 50 day moving average is $187.59 and its 200 day moving average is $190.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.78 and a quick ratio of 0.68.

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 Thomson Reuters’ consensus estimate of $2.77 by ($0.07). Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the business earned $2.50 earnings per share. Norfolk Southern’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts predict that Norfolk Southern Corp. will post 10.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 is an increase from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 2.22%. Norfolk Southern’s dividend payout ratio (DPR) is currently 39.54%.

In related news, Director Jennifer F. Scanlon purchased 525 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $191.52 per share, with a total value of $100,548.00. Following the completion of the acquisition, the director now directly owns 525 shares in the company, valued at $100,548. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.

NSC has been the topic of several recent analyst reports. Argus increased their price target on shares of Norfolk Southern from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 price objective for the company in a report on Thursday, May 9th. Goldman Sachs Group assumed coverage on Norfolk Southern in a report on Wednesday, July 10th. They issued a “buy” rating and a $237.00 price objective for the company. ValuEngine downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Deutsche Bank decreased their price objective on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating for the company in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $205.83.

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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