2 weeks Ago By ABMN Staff
Core Alternative Capital reduced its stake in Norfolk Southern Co. ( NYSE:NSC – Free Report ) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the SEC.
The fund owned 32,291 shares of the railroad operator’s stock after selling 4,614 shares during the quarter. Norfolk Southern accounts for 1.4% of Core Alternative Capital’s investment portfolio, making the stock its 26th largest position.
Core Alternative Capital’s holdings in Norfolk Southern were worth $6,932,000 as of its most recent filing with the SEC. A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP lifted its stake in Norfolk Southern by 378.
1% during the second quarter. Quarry LP now owns 875 shares of the railroad operator’s stock worth $188,000 after purchasing an additional 692 shares in the last quarter. Front Row Advisors LLC raised its holdings in shares of Norfolk Southern by 2,100.
0% in the 2nd quarter. Front Row Advisors LLC now owns 1,342 shares of the railroad operator’s stock valued at $288,000 after buying an additional 1,281 shares during the period. Northwestern Mutual Wealth Management Co.
lifted its stake in Norfolk Southern by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co.
now owns 29,528 shares of the railroad operator’s stock worth $6,339,000 after acquiring an additional 960 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Norfolk Southern by 5.1% during the 2nd quarter.
NewEdge Advisors LLC now owns 16,099 shares of the railroad operator’s stock valued at $3,456,000 after acquiring an additional 784 shares during the period. Finally, Creative Planning grew its position in Norfolk Southern by 1.4% in the 2nd quarter.
Creative Planning now owns 83,847 shares of the railroad operator’s stock valued at $18,001,000 after acquiring an additional 1,161 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.
Norfolk Southern Stock Up 0.9 % Shares of NYSE:NSC opened at $246.47 on Monday.
The firm has a 50 day simple moving average of $244.95 and a 200-day simple moving average of $237.24.
Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.
66. The company has a current ratio of 0.63, a quick ratio of 0.
54 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $55.
68 billion, a PE ratio of 39.69, a P/E/G ratio of 2.40 and a beta of 1.
31. Norfolk Southern Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a $1.
35 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.
40 dividend on an annualized basis and a yield of 2.19%. Norfolk Southern’s dividend payout ratio is presently 86.
96%. Insider Activity In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink .
In related news, EVP Nabanita C. Nag sold 355 shares of the 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 completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.
44. The sale was disclosed in a filing with the SEC, which is available through the SEC website . Also, Director Sameh Fahmy acquired 700 shares of the business’s stock in a transaction on Thursday, August 1st.
The shares were purchased at an average price of $245.15 per share, with a total value of $171,605.00.
Following the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The disclosure for this purchase can be found here . Corporate insiders own 0.
19% of the company’s stock. Wall Street Analysts Forecast Growth Several research firms have recently commented on NSC. Wells Fargo & Company raised their price objective on shares of Norfolk Southern from $260.
00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI boosted their price target on shares of Norfolk Southern from $265.
00 to $276.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Royal Bank of Canada cut their price objective on Norfolk Southern from $270.
00 to $267.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Sanford C.
Bernstein lowered their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, July 8th.
Finally, Benchmark upped their price target on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th.
One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $264.89.
Read Our Latest Research Report on Norfolk Southern About Norfolk Southern ( 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. Recommended Stories Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.
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