Triangle Securities Wealth Management Has $365,000 Stock Position in Norfolk Southern Corp. (NYSE:NSC)

Triangle Securities Wealth Management decreased its stake in Norfolk Southern Corp. (NYSE:NSC) by 3.9% in the second quarter, HoldingsChannel reports. The firm owned 2,077 shares of the railroad operator’s stock after selling 85 shares during the period. Triangle Securities Wealth Management’s holdings in Norfolk Southern were worth $365,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Norfolk Southern in the 1st quarter valued at $30,000. Tarbox Family Office Inc. boosted its position in shares of Norfolk Southern by 54.4% in the 1st quarter. Tarbox Family Office Inc. now owns 230 shares of the railroad operator’s stock valued at $34,000 after purchasing an additional 81 shares during the period. Royal Fund Management LLC acquired a new stake in Norfolk Southern during the 1st quarter worth about $38,000. Verus Capital Partners LLC acquired a new stake in Norfolk Southern during the 4th quarter worth about $43,000. Finally, Ballast Advisors LLC acquired a new stake in Norfolk Southern during the 1st quarter worth about $48,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

In other news, CEO James A. Squires sold 50,797 shares of Norfolk Southern stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $191.48, for a total transaction of $9,726,609.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Joseph Wheeler sold 8,918 shares of Norfolk Southern stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $195.02, for a total value of $1,739,188.36. Following the sale, the chief operating officer now directly owns 12,846 shares in the company, valued at approximately $2,505,226.92. The disclosure for this sale can be found here. Insiders sold a total of 71,388 shares of company stock worth $13,616,926 in the last ninety days. Insiders own 0.32% of the company’s stock.

A number of brokerages have commented on NSC. Credit Suisse Group raised their price objective on Norfolk Southern from $182.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Barclays lowered Norfolk Southern from an “equal weight” rating to an “underweight” rating and set a $150.00 price objective for the company. in a research report on Friday, April 17th. Evercore ISI upgraded Norfolk Southern from an “in-line” rating to an “outperform” rating in a research report on Wednesday, May 20th. Stifel Nicolaus began coverage on Norfolk Southern in a research report on Monday, April 6th. They set a “hold” rating and a $163.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price target on Norfolk Southern from $189.00 to $199.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $192.36.

NSC opened at $175.26 on Thursday. The firm has a market capitalization of $48.14 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 2.84 and a beta of 1.37. The stock’s 50 day moving average price is $177.60 and its two-hundred day moving average price is $178.61. The company has a quick ratio of 0.78, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. Norfolk Southern Corp. has a 12-month low of $112.62 and a 12-month high of $219.88.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 29th. The railroad operator reported $2.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.25 by $0.33. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.57 billion. Norfolk Southern had a return on equity of 18.12% and a net margin of 21.89%. The company’s revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.51 EPS. As a group, analysts anticipate that Norfolk Southern Corp. will post 8.79 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, May 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.36%.

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.

Featured Story: Determine Your Level of Risk Tolerance

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 Corp. (NYSE:NSC).

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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.com's FREE daily email newsletter.