Rockefeller Capital Management L.P. Trims Position in Norfolk Southern Co. (NYSE:NSC)

Rockefeller Capital Management L.P. decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 5.3% during the second quarter, HoldingsChannel reports. The firm owned 13,053 shares of the railroad operator’s stock after selling 734 shares during the period. Rockefeller Capital Management L.P.’s holdings in Norfolk Southern were worth $3,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rafferty Asset Management LLC increased its position in Norfolk Southern by 97.6% during the 2nd quarter. Rafferty Asset Management LLC now owns 37,148 shares of the railroad operator’s stock valued at $9,859,000 after purchasing an additional 18,347 shares during the period. WINTON GROUP Ltd increased its position in Norfolk Southern by 1.5% during the 2nd quarter. WINTON GROUP Ltd now owns 10,018 shares of the railroad operator’s stock valued at $2,659,000 after purchasing an additional 147 shares during the period. Allegheny Financial Group LTD purchased a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $1,053,000. Aspire Private Capital LLC grew its position in shares of Norfolk Southern by 41.7% in the 2nd quarter. Aspire Private Capital LLC now owns 1,547 shares of the railroad operator’s stock worth $411,000 after buying an additional 455 shares during the last quarter. Finally, Souders Financial Advisors grew its position in shares of Norfolk Southern by 2.6% in the 2nd quarter. Souders Financial Advisors now owns 9,200 shares of the railroad operator’s stock worth $2,442,000 after buying an additional 230 shares during the last quarter. 72.27% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Norfolk Southern from $165.00 to $175.00 and gave the stock an “underweight” rating in a research report on Monday, May 24th. Wells Fargo & Company lifted their price objective on shares of Norfolk Southern from $315.00 to $318.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Evercore ISI upgraded shares of Norfolk Southern from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $301.00 to $303.00 in a research note on Friday, July 9th. Stifel Nicolaus began coverage on shares of Norfolk Southern in a research note on Monday, June 21st. They issued a “hold” rating for the company. Finally, Atlantic Securities began coverage on shares of Norfolk Southern in a research note on Monday, July 12th. They issued a “neutral” rating and a $276.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $272.10.

In other news, CMO Alan H. Shaw sold 5,148 shares of the stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $256.93, for a total transaction of $1,322,675.64. Following the sale, the chief marketing officer now directly owns 31,399 shares of the company’s stock, valued at approximately $8,067,345.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

NSC stock opened at $248.00 on Friday. Norfolk Southern Co. has a one year low of $196.15 and a one year high of $295.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.99 and a current ratio of 1.08. The firm’s fifty day moving average is $257.96 and its 200 day moving average is $267.01. The firm has a market cap of $61.25 billion, a PE ratio of 22.96, a P/E/G ratio of 1.75 and a beta of 1.29.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 28th. The railroad operator reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.34. Norfolk Southern had a net margin of 25.98% and a return on equity of 19.12%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. Research analysts predict that Norfolk Southern Co. will post 11.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Monday, August 9th were paid a dividend of $1.09 per share. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.99. This represents a $4.36 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Friday, August 6th. Norfolk Southern’s dividend payout ratio is presently 47.14%.

Norfolk Southern Profile

Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.

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

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