Cullinan Associates Inc. Sells 2,700 Shares of Norfolk Southern Co. (NYSE:NSC)

Cullinan Associates Inc. cut its position in Norfolk Southern Co. (NYSE:NSC) by 15.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,463 shares of the railroad operator’s stock after selling 2,700 shares during the quarter. Cullinan Associates Inc.’s holdings in Norfolk Southern were worth $3,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its stake in shares of Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after purchasing an additional 106 shares during the period. Orion Capital Management LLC bought a new position in Norfolk Southern in the 3rd quarter worth approximately $32,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Norfolk Southern during the fourth quarter worth approximately $32,000. Financial Connections Group Inc. bought a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $34,000. Finally, Rise Advisors LLC bought a new stake in Norfolk Southern in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NSC. Loop Capital upped their price target on Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Benchmark reiterated a “buy” rating and set a $277.00 price target on shares of Norfolk Southern in a research note on Thursday, April 25th. The Goldman Sachs Group upped their target price on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Stifel Nicolaus increased their target price on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, Jefferies Financial Group started coverage on shares of Norfolk Southern in a research note on Monday, April 8th. They issued a “buy” rating and a $300.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.89.

Norfolk Southern Stock Up 0.0 %

Shares of Norfolk Southern stock traded up $0.10 during trading on Tuesday, reaching $214.16. The stock had a trading volume of 550,085 shares, compared to its average volume of 1,322,274. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average price of $227.10 and a two-hundred day moving average price of $239.01. The company has a market capitalization of $48.38 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 2.03 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.32 EPS. Sell-side analysts predict that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is 86.96%.

Insiders Place Their Bets

In related news, Director Claude Mongeau acquired 5,650 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were bought 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Norfolk Southern news, Director Claude Mongeau purchased 5,650 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were 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 owns 20,000 shares in the company, valued at $4,420,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Company Profile

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.