Norfolk Southern Corp. (NSC) Shares Sold by Portland Global Advisors LLC
Portland Global Advisors LLC reduced its stake in Norfolk Southern Corp. (NYSE:NSC) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 31,392 shares of the railroad operator’s stock after selling 55 shares during the period. Norfolk Southern Corp. accounts for approximately 1.2% of Portland Global Advisors LLC’s portfolio, making the stock its 14th largest position. Portland Global Advisors LLC’s holdings in Norfolk Southern Corp. were worth $2,672,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of NSC. Diversified Trust Co boosted its position in Norfolk Southern Corp. by 32.2% in the second quarter. Diversified Trust Co now owns 31,855 shares of the railroad operator’s stock valued at $2,712,000 after buying an additional 7,750 shares during the period. British Airways Pensions Investment Management Ltd bought a new position in Norfolk Southern Corp. during the second quarter valued at $27,348,000. Pitcairn Co. boosted its position in Norfolk Southern Corp. by 0.9% in the second quarter. Pitcairn Co. now owns 2,527 shares of the railroad operator’s stock valued at $215,000 after buying an additional 23 shares during the period. Bank of Montreal Can bought a new position in Norfolk Southern Corp. during the second quarter valued at $37,178,000. Finally, MSI Financial Services Inc boosted its position in Norfolk Southern Corp. by 1.0% in the second quarter. MSI Financial Services Inc now owns 39,689 shares of the railroad operator’s stock valued at $3,378,000 after buying an additional 389 shares during the period. Institutional investors own 67.90% of the company’s stock.
Norfolk Southern Corp. (NYSE:NSC) traded up 0.86% during midday trading on Thursday, reaching $93.91. The company had a trading volume of 1,280,653 shares. The firm has a 50-day moving average of $91.39 and a 200 day moving average of $86.77. Norfolk Southern Corp. has a 1-year low of $64.51 and a 1-year high of $98.75. The company has a market capitalization of $27.57 billion, a P/E ratio of 17.59 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.51 billion. Norfolk Southern Corp. had a return on equity of 13.34% and a net margin of 15.88%. Norfolk Southern Corp.’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 EPS. On average, equities research analysts forecast that Norfolk Southern Corp. will post $5.45 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Monday, August 8th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.51%. The ex-dividend date was Thursday, August 4th. Norfolk Southern Corp.’s dividend payout ratio (DPR) is presently 44.19%.
Several research analysts recently weighed in on the stock. Citigroup Inc. upped their price objective on shares of Norfolk Southern Corp. from $87.00 to $97.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 13th. Barclays PLC reduced their price target on shares of Norfolk Southern Corp. from $104.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. Loop Capital reiterated a “hold” rating on shares of Norfolk Southern Corp. in a research report on Friday, September 9th. Atlantic Securities assumed coverage on shares of Norfolk Southern Corp. in a research report on Thursday, August 11th. They set a “neutral” rating and a $104.00 price target on the stock. Finally, Argus reiterated a “buy” rating on shares of Norfolk Southern Corp. in a research report on Wednesday, August 3rd. Two research 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’s stock. Norfolk Southern Corp. presently has an average rating of “Hold” and an average price target of $89.40.
In other Norfolk Southern Corp. news, EVP Marta R. Stewart sold 3,064 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $91.56, for a total value of $280,539.84. Following the transaction, the executive vice president now owns 10,766 shares of the company’s stock, valued at approximately $985,734.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the vice president now directly owns 11,580 shares in the company, valued at approximately $1,023,093. The disclosure for this sale can be found here. 0.66% of the stock is owned by company 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.
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