Twin Capital Management Inc. decreased its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,400 shares of the railroad operator’s stock after selling 2,550 shares during the quarter. Twin Capital Management Inc.’s holdings in Norfolk Southern were worth $6,857,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NSC. Eagle Global Advisors LLC grew its position in Norfolk Southern by 2.0% in the 1st quarter. Eagle Global Advisors LLC now owns 2,550 shares of the railroad operator’s stock valued at $477,000 after purchasing an additional 50 shares during the period. Harfst & Associates Inc. grew its position in Norfolk Southern by 3.7% in the 1st quarter. Harfst & Associates Inc. now owns 1,394 shares of the railroad operator’s stock valued at $260,000 after purchasing an additional 50 shares during the period. Alera Investment Advisors LLC grew its position in Norfolk Southern by 4.8% in the 1st quarter. Alera Investment Advisors LLC now owns 1,129 shares of the railroad operator’s stock valued at $211,000 after purchasing an additional 52 shares during the period. Telemus Capital LLC grew its position in Norfolk Southern by 3.5% in the 1st quarter. Telemus Capital LLC now owns 1,618 shares of the railroad operator’s stock valued at $302,000 after purchasing an additional 55 shares during the period. Finally, Bigelow Investment Advisors LLC grew its position in Norfolk Southern by 1.0% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 5,409 shares of the railroad operator’s stock valued at $1,078,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 price target for the company in a research report on Thursday, May 9th. Argus lifted their price target on shares of Norfolk Southern from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Cowen reaffirmed an “outperform” rating and set a $230.00 price objective (up from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Finally, Morgan Stanley set a $130.00 price objective on shares of Norfolk Southern and gave the stock a “sell” rating in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $205.83.

NSC stock traded down $1.14 during mid-day trading on Thursday, reaching $169.95. 57,385 shares of the company traded hands, compared to its average volume of 2,340,664. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $44.91 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.41 and a beta of 1.31. Norfolk Southern Corp. has a 52-week low of $138.65 and a 52-week high of $211.46. The company has a fifty day moving average price of $192.28.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.07). The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. Analysts expect that Norfolk Southern Corp. will post 10.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, August 2nd. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.86. Norfolk Southern’s payout ratio is presently 39.54%.

In other news, Chairman James A. Squires sold 3,024 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total transaction of $619,043.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer F. Scanlon acquired 525 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $191.52 per share, with a total value of $100,548.00. Following the acquisition, the director now directly owns 525 shares of the company’s stock, valued at approximately $100,548. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

Read More: Technical Indicators – What is a Golden Cross?

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).

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

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