Stevens First Principles Investment Advisors Lowers Stake in Norfolk Southern Corp. (NSC)

Stevens First Principles Investment Advisors trimmed its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,576 shares of the railroad operator’s stock after selling 555 shares during the period. Norfolk Southern comprises approximately 3.5% of Stevens First Principles Investment Advisors’ investment portfolio, making the stock its 6th largest holding. Stevens First Principles Investment Advisors’ holdings in Norfolk Southern were worth $5,820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Norfolk Southern by 1.6% in the 1st quarter. BlackRock Inc. now owns 21,254,266 shares of the railroad operator’s stock worth $2,885,904,000 after acquiring an additional 329,245 shares during the last quarter. American Century Companies Inc. grew its holdings in Norfolk Southern by 6.0% during the 1st quarter. American Century Companies Inc. now owns 1,305,994 shares of the railroad operator’s stock valued at $177,328,000 after buying an additional 74,003 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Norfolk Southern by 2.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,061,744 shares of the railroad operator’s stock valued at $144,164,000 after buying an additional 30,024 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Norfolk Southern by 5.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 898,104 shares of the railroad operator’s stock valued at $135,497,000 after buying an additional 47,592 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Norfolk Southern by 2,147.6% during the 1st quarter. Schroder Investment Management Group now owns 779,690 shares of the railroad operator’s stock valued at $105,866,000 after buying an additional 745,000 shares in the last quarter. Institutional investors own 73.24% of the company’s stock.

A number of research analysts have weighed in on NSC shares. Loop Capital lifted their target price on Norfolk Southern to $140.00 and gave the company a “sell” rating in a report on Thursday, April 26th. TD Securities lifted their target price on Norfolk Southern from $155.00 to $160.00 and gave the company a “hold” rating in a report on Thursday, April 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $158.00 target price on shares of Norfolk Southern in a report on Saturday, June 2nd. Morgan Stanley lifted their target price on Norfolk Southern from $100.00 to $103.00 and gave the company an “underweight” rating in a report on Thursday, April 26th. Finally, Credit Suisse Group lifted their target price on Norfolk Southern from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, April 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $159.72.

In other news, COO Michael Joseph Wheeler sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $151.33, for a total transaction of $302,660.00. Following the completion of the transaction, the chief operating officer now owns 10,207 shares of the company’s stock, valued at $1,544,625.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.

Shares of NYSE NSC opened at $171.12 on Tuesday. Norfolk Southern Corp. has a 12 month low of $116.77 and a 12 month high of $174.43. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.55. The stock has a market cap of $48.15 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.58 and a beta of 1.39.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, July 25th. The railroad operator reported $2.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.19. Norfolk Southern had a return on equity of 14.53% and a net margin of 52.36%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the firm earned $1.71 earnings per share. Norfolk Southern’s revenue was up 9.9% on a year-over-year basis. sell-side analysts anticipate that Norfolk Southern Corp. will post 9.06 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Monday, August 6th will be issued a dividend of $0.80 per share. This is a positive change 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 dividend yield of 1.87%. Norfolk Southern’s payout ratio is presently 48.41%.

Norfolk Southern Company Profile

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.

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

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