2 weeks Ago By ABMN Staff
Dai ichi Life Insurance Company Ltd lessened its stake in shares of Norfolk Southern Co. ( NYSE:NSC – Free Report ) by 40.8% in the 2nd quarter, Holdings Channel reports.
The firm owned 5,811 shares of the railroad operator’s stock after selling 4,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Norfolk Southern were worth $1,248,000 at the end of the most recent reporting period. Several other hedge funds and other institutional investors have also made changes to their positions in the company.
Cedar Wealth Management LLC purchased a new position in Norfolk Southern in the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. purchased a new stake in Norfolk Southern in the 2nd quarter valued at about $27,000.
Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern during the second quarter valued at about $31,000. Rise Advisors LLC purchased a new stake in Norfolk Southern in the first quarter valued at approximately $34,000.
Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Norfolk Southern in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.
Analyst Upgrades and Downgrades A number of equities research analysts have issued reports on NSC shares. Benchmark increased their target price on shares of Norfolk Southern from $266.00 to $270.
00 and gave the stock a “buy” rating in a report on Monday, July 29th. TD Cowen increased their price target on shares of Norfolk Southern from $251.00 to $253.
00 and gave the company a “hold” rating in a research note on Friday, July 26th. Sanford C. Bernstein decreased their target price on Norfolk Southern from $288.
00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Royal Bank of Canada reduced their price target on shares of Norfolk Southern from $270.
00 to $267.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their price objective on Norfolk Southern from $260.
00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock.
According to data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus target price of $264.24. Norfolk Southern Stock Performance Shares of NSC opened at $245.
80 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.
54 and a debt-to-equity ratio of 1.30. Norfolk Southern Co.
has a 12-month low of $183.09 and a 12-month high of $263.66.
The stock has a market cap of $55.53 billion, a P/E ratio of 39.58, a PEG ratio of 2.
48 and a beta of 1.31. The company has a 50-day moving average of $240.
36 and a two-hundred day moving average of $238.02. Norfolk Southern ( NYSE:NSC – Get Free Report ) last released its earnings results on Thursday, July 25th.
The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.
20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.
64%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.
04 billion. During the same period in the prior year, the firm earned $2.95 EPS.
The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that Norfolk Southern Co.
will post 11.8 EPS for the current fiscal year. Norfolk Southern Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th.
Shareholders of record on Friday, August 2nd were paid a $1.35 dividend. This represents a $5.
40 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, August 2nd.
Norfolk Southern’s payout ratio is 86.96%. Insider Activity at Norfolk Southern In other news, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st.
The shares were acquired at an average cost of $245.15 per share, with a total value of $171,605.00.
Following the purchase, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link . In related news, Director Sameh Fahmy bought 700 shares of the stock in a transaction dated Thursday, August 1st.
The stock was acquired at an average price of $245.15 per share, for a total transaction of $171,605.00.
Following the completion of the purchase, the director now owns 7,700 shares in the company, valued at $1,887,655. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website . Also, EVP Nabanita C.
Nag sold 355 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.
90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44.
The disclosure for this sale can be found here . 0.19% of the stock is owned by insiders.
Norfolk Southern Company Profile ( Free Report ) Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal. See Also 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 Co. ( NYSE:NSC – Free Report ). 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.
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