Wagner Bowman Management Corp cut its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 10,607 shares of the railroad operator’s stock after selling 294 shares during the period. Wagner Bowman Management Corp’s holdings in Norfolk Southern Corp. were worth $902,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Skylands Capital LLC increased its stake in Norfolk Southern Corp. by 10.2% in the second quarter. Skylands Capital LLC now owns 176,200 shares of the railroad operator’s stock valued at $15,000,000 after buying an additional 16,350 shares during the last quarter. Legal & General Group Plc increased its stake in Norfolk Southern Corp. by 2.1% in the first quarter. Legal & General Group Plc now owns 1,307,343 shares of the railroad operator’s stock valued at $108,838,000 after buying an additional 26,895 shares during the last quarter. Berkshire Asset Management LLC PA increased its stake in Norfolk Southern Corp. by 7.6% in the first quarter. Berkshire Asset Management LLC PA now owns 71,983 shares of the railroad operator’s stock valued at $5,993,000 after buying an additional 5,067 shares during the last quarter. AXA increased its stake in Norfolk Southern Corp. by 0.7% in the first quarter. AXA now owns 68,952 shares of the railroad operator’s stock valued at $5,740,000 after buying an additional 500 shares during the last quarter. Finally, BlackRock Japan Co. Ltd increased its stake in Norfolk Southern Corp. by 0.3% in the first quarter. BlackRock Japan Co. Ltd now owns 372,606 shares of the railroad operator’s stock valued at $31,019,000 after buying an additional 1,215 shares during the last quarter. 67.90% of the stock is owned by institutional investors and hedge funds.

Shares of Norfolk Southern Corp. (NYSE:NSC) traded down 0.12% during mid-day trading on Tuesday, reaching $91.92. The company’s stock had a trading volume of 1,369,467 shares. Norfolk Southern Corp. has a 52-week low of $64.51 and a 52-week high of $98.75. The firm’s 50 day moving average is $91.22 and its 200-day moving average is $86.73. The company has a market capitalization of $26.98 billion, a PE ratio of 17.22 and a beta of 1.28.

Norfolk Southern Corp. (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The business earned $2.45 billion during the quarter, compared to analyst estimates of $2.51 billion. Norfolk Southern Corp. had a return on equity of 13.34% and a net margin of 15.88%. The company’s revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Analysts forecast that Norfolk Southern Corp. will post $5.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Monday, August 8th were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $2.36 annualized dividend and a dividend yield of 2.57%. Norfolk Southern Corp.’s dividend payout ratio (DPR) is 44.19%.

Several equities research analysts have recently weighed in on NSC shares. Citigroup Inc. increased their price objective on Norfolk Southern Corp. from $87.00 to $97.00 and gave the company a “neutral” rating in a report on Tuesday, September 13th. Loop Capital reissued a “hold” rating on shares of Norfolk Southern Corp. in a report on Friday, September 9th. Argus reissued a “buy” rating on shares of Norfolk Southern Corp. in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. started coverage on Norfolk Southern Corp. in a report on Wednesday, June 15th. They issued a “market perform” rating for the company. Finally, Credit Suisse Group AG decreased their price objective on Norfolk Southern Corp. from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $89.40.

In other news, VP Thomas E. Hurlbut sold 850 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $92.28, for a total value of $78,438.00. Following the completion of the sale, the vice president now owns 10,730 shares in the company, valued at $990,164.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas E. Hurlbut sold 528 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $88.35, for a total value of $46,648.80. Following the completion of the sale, the vice president now owns 11,580 shares of the company’s stock, valued at approximately $1,023,093. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Norfolk Southern Corp. Company Profile

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

5 Day Chart for NYSE:NSC

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).

Receive News & Ratings for Norfolk Southern Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern Corp. and related companies with MarketBeat.com's FREE daily email newsletter.