Seaward Management Limited Partnership held its position in shares of Norfolk Southern Corp. (NYSE:NSC) during the second quarter, Holdings Channel reports. The institutional investor owned 6,426 shares of the railroad operator’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Norfolk Southern Corp. were worth $547,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Independent Portfolio Consultants Inc. raised its position in shares of Norfolk Southern Corp. by 165.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,460 shares of the railroad operator’s stock valued at $124,000 after buying an additional 910 shares during the last quarter. Oakworth Capital Inc. raised its position in shares of Norfolk Southern Corp. by 46.5% in the second quarter. Oakworth Capital Inc. now owns 1,748 shares of the railroad operator’s stock valued at $147,000 after buying an additional 555 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Norfolk Southern Corp. during the first quarter valued at $158,000. Trust Department MB Financial Bank N A raised its position in shares of Norfolk Southern Corp. by 1,169.2% in the second quarter. Trust Department MB Financial Bank N A now owns 1,815 shares of the railroad operator’s stock valued at $159,000 after buying an additional 1,672 shares during the last quarter. Finally, Kistler Tiffany Companies LLC raised its position in shares of Norfolk Southern Corp. by 8.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,978 shares of the railroad operator’s stock valued at $168,000 after buying an additional 160 shares during the last quarter. 67.90% of the stock is currently owned by institutional investors.

Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 0.86% during mid-day trading on Thursday, hitting $93.91. 1,280,653 shares of the stock traded hands. The stock has a market cap of $27.57 billion, a price-to-earnings ratio of 17.59 and a beta of 1.28. The firm’s 50-day moving average is $91.55 and its 200-day moving average is $86.82. Norfolk Southern Corp. has a 52 week low of $64.51 and a 52 week high of $98.75.

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

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Monday, August 8th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, August 4th. Norfolk Southern Corp.’s payout ratio is 44.19%.

Several equities analysts recently commented on NSC shares. BMO Capital Markets restated a “market perform” rating and issued a $93.00 price target on shares of Norfolk Southern Corp. in a research note on Thursday, July 7th. Citigroup Inc. restated a “hold” rating and issued a $87.00 price target on shares of Norfolk Southern Corp. in a research note on Friday, June 17th. Oppenheimer Holdings Inc. started coverage on shares of Norfolk Southern Corp. in a research note on Wednesday, June 15th. They issued a “market perform” rating on the stock. Credit Suisse Group AG decreased their price target on shares of Norfolk Southern Corp. from $99.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, Barclays PLC decreased 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 note on Monday, September 12th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $89.40.

In other news, VP Thomas E. Hurlbut sold 528 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $88.35, for a total transaction of $46,648.80. Following the completion of the transaction, the vice president now owns 11,580 shares of the company’s stock, valued at $1,023,093. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marta R. Stewart sold 3,064 shares of the business’s stock in a transaction dated 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 directly owns 10,766 shares of the company’s stock, valued at approximately $985,734.96. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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

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