Rampart Investment Management Company LLC lowered its position in Norfolk Southern Corp. (NYSE:NSC) by 31.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 12,942 shares of the railroad operator’s stock after selling 5,850 shares during the period. Rampart Investment Management Company LLC’s holdings in Norfolk Southern were worth $1,953,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kaizen Advisory LLC lifted its position in shares of Norfolk Southern by 138.0% during the 2nd quarter. Kaizen Advisory LLC now owns 664 shares of the railroad operator’s stock valued at $100,000 after acquiring an additional 385 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at $102,000. Sun Life Financial INC lifted its position in shares of Norfolk Southern by 336.4% during the 2nd quarter. Sun Life Financial INC now owns 768 shares of the railroad operator’s stock valued at $116,000 after acquiring an additional 592 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at $117,000. Finally, Highlander Capital Management LLC acquired a new position in shares of Norfolk Southern during the 1st quarter valued at $106,000. Hedge funds and other institutional investors own 72.46% of the company’s stock.

In other Norfolk Southern news, Chairman James A. Squires sold 34,077 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $171.73, for a total transaction of $5,852,043.21. Following the transaction, the chairman now owns 63,958 shares in the company, valued at $10,983,507.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Cynthia C. Earhart sold 2,370 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $175.09, for a total transaction of $414,963.30. Following the transaction, the vice president now owns 2,370 shares in the company, valued at approximately $414,963.30. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

NSC opened at $174.61 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.81. Norfolk Southern Corp. has a 1-year low of $122.31 and a 1-year high of $177.07. The firm has a market cap of $49.00 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.41.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.19. Norfolk Southern had a net margin of 52.36% and a return on equity of 14.53%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. equities research analysts anticipate that Norfolk Southern Corp. will post 9.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Monday, August 6th will be issued a dividend of $0.80 per share. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $3.20 annualized dividend and a yield of 1.83%. Norfolk Southern’s dividend payout ratio is presently 48.41%.

A number of research firms recently issued reports on NSC. Scotiabank set a $175.00 target price on shares of Norfolk Southern and gave the company a “buy” rating in a research report on Wednesday, July 25th. Cowen reiterated a “buy” rating and set a $188.00 target price on shares of Norfolk Southern in a research report on Wednesday, July 25th. Citigroup upgraded shares of Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Monday, June 25th. Credit Suisse Group boosted their target price on shares of Norfolk Southern from $176.00 to $182.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Finally, TD Securities boosted their target price on shares of Norfolk Southern from $165.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $164.42.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

Further Reading: Return on Investment (ROI)

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

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