Natixis Advisors L.P. increased its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,983 shares of the railroad operator’s stock after buying an additional 534 shares during the quarter. Natixis Advisors L.P.’s holdings in Norfolk Southern were worth $5,777,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Norfolk Southern by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 3,364,851 shares of the railroad operator’s stock worth $502,245,000 after buying an additional 221,780 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in Norfolk Southern by 7.1% during the first quarter. Eagle Asset Management Inc. now owns 3,720 shares of the railroad operator’s stock valued at $695,000 after purchasing an additional 246 shares during the last quarter. Carillon Tower Advisers Inc. grew its stake in Norfolk Southern by 63.5% in the 1st quarter. Carillon Tower Advisers Inc. now owns 78,100 shares of the railroad operator’s stock valued at $14,595,000 after buying an additional 30,325 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Norfolk Southern by 2.7% in the first quarter. Stephens Inc. AR now owns 13,333 shares of the railroad operator’s stock worth $2,492,000 after purchasing an additional 345 shares during the period. Finally, Woodard & Co. Asset Management Group Inc. ADV bought a new position in Norfolk Southern in the 1st quarter worth approximately $210,000. 72.28% of the stock is currently owned by institutional investors and hedge funds.
NSC traded down $2.45 during trading on Wednesday, hitting $176.13. 55,928 shares of the stock traded hands, compared to its average volume of 1,365,859. 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 Corp. has a twelve month low of $138.65 and a twelve month high of $211.46. The company has a market cap of $46.71 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.48 and a beta of 1.34. The business has a 50 day moving average price of $178.07 and a 200 day moving average price of $190.20.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, August 2nd. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.86. Norfolk Southern’s payout ratio is presently 39.54%.
NSC has been the topic of a number of recent research reports. Deutsche Bank decreased their price target on shares of Norfolk Southern from $198.00 to $196.00 and set a “hold” rating on the stock in a research note on Wednesday, June 12th. Cascend Securities lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Goldman Sachs Group started coverage on shares of Norfolk Southern in a research report on Wednesday, July 10th. They issued a “buy” rating and a $237.00 price objective for the company. ValuEngine cut Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Bank of America boosted their price target on shares of Norfolk Southern from $212.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $206.39.
In other Norfolk Southern news, Director Jennifer F. Scanlon acquired 525 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The stock was purchased at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the completion of the acquisition, the director now directly owns 525 shares of the company’s stock, valued at $100,548. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
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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