Neville Rodie & Shaw Inc. reduced its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,534 shares of the railroad operator’s stock after selling 1,272 shares during the quarter. Norfolk Southern accounts for approximately 1.6% of Neville Rodie & Shaw Inc.’s holdings, making the stock its 15th biggest position. Neville Rodie & Shaw Inc.’s holdings in Norfolk Southern were worth $14,649,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Norfolk Southern by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,837,509 shares of the railroad operator’s stock valued at $3,954,210,000 after purchasing an additional 88,933 shares during the period. FMR LLC grew its stake in shares of Norfolk Southern by 27.4% during the 1st 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 period. Lazard Asset Management LLC grew its stake in shares of Norfolk Southern by 27.7% during the 1st 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 period. Nuveen Asset Management LLC grew its stake in shares of Norfolk Southern by 4,303.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,491,367 shares of the railroad operator’s stock valued at $297,275,000 after purchasing an additional 1,457,500 shares during the period. Finally, FIL Ltd grew its stake in shares of Norfolk Southern by 16.9% during the 1st quarter. FIL Ltd now owns 1,275,249 shares of the railroad operator’s stock valued at $238,331,000 after purchasing an additional 184,698 shares during the period. Institutional investors and hedge funds own 72.23% of the company’s stock.
NYSE NSC traded down $0.29 during trading hours on Thursday, reaching $169.40. The company’s stock had a trading volume of 79,779 shares, compared to its average volume of 1,551,583. The firm’s 50-day moving average price is $176.36 and its 200-day moving average price is $190.28. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.72. Norfolk Southern Corp. has a 1 year low of $138.65 and a 1 year high of $211.46. The company has a market capitalization of $47.32 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.51 and a beta of 1.36.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date was Friday, August 2nd. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a yield of 2.22%. Norfolk Southern’s payout ratio is currently 39.54%.
In other Norfolk Southern news, Director Jennifer F. Scanlon purchased 525 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of $191.52 per share, with a total value of $100,548.00. Following the acquisition, the director now owns 525 shares in the company, valued at $100,548. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on NSC shares. Goldman Sachs Group started coverage on Norfolk Southern in a research note on Wednesday, July 10th. They set a “buy” rating and a $237.00 price target for the company. Deutsche Bank lowered their price objective on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating on the stock in a research report on Wednesday, June 12th. UBS Group lowered their price objective on Norfolk Southern from $230.00 to $216.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Cascend Securities cut Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Bank of America lifted their price objective on Norfolk Southern from $212.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $207.17.
Norfolk Southern 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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