Norfolk Southern Co. (NYSE:NSC) Holdings Increased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 229.9% during the first quarter, Holdings Channel reports. The institutional investor owned 6,598 shares of the railroad operator’s stock after acquiring an additional 4,598 shares during the period. UniSuper Management Pty Ltd’s holdings in Norfolk Southern were worth $1,682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSC. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth about $27,000. Exchange Traded Concepts LLC raised its holdings in shares of Norfolk Southern by 662.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $32,000. Financial Connections Group Inc. bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $34,000. Finally, Rise Advisors LLC bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $34,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Down 1.3 %

NSC traded down $2.94 on Wednesday, reaching $221.34. 1,479,314 shares of the company traded hands, compared to its average volume of 1,296,044. The stock’s 50 day moving average price is $222.70 and its 200-day moving average price is $237.58. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The company has a market cap of $50.00 billion, a price-to-earnings ratio of 35.96, a PEG ratio of 2.25 and a beta of 1.32. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm posted $3.32 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.62 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.44%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s dividend payout ratio is 86.96%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Claude Mongeau bought 5,650 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $4,420,000. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NSC. Jefferies Financial Group began coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $277.00 target price on shares of Norfolk Southern in a report on Thursday, April 25th. UBS Group dropped their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada upgraded shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 price target on the stock in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and an average price target of $263.53.

About Norfolk Southern

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.