Tufton Capital Management Has $10.26 Million Stock Holdings in Norfolk Southern Corp. (NYSE:NSC)

Tufton Capital Management decreased its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 18.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,474 shares of the railroad operator’s stock after selling 11,264 shares during the period. Norfolk Southern comprises 2.2% of Tufton Capital Management’s holdings, making the stock its 15th largest holding. Tufton Capital Management’s holdings in Norfolk Southern were worth $10,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NSC. KMG Fiduciary Partners LLC acquired a new stake in Norfolk Southern in the second quarter valued at approximately $205,000. Creative Planning boosted its position in Norfolk Southern by 2.0% in the second quarter. Creative Planning now owns 42,881 shares of the railroad operator’s stock valued at $8,547,000 after buying an additional 857 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in Norfolk Southern by 4.1% in the second quarter. Sumitomo Life Insurance Co. now owns 9,013 shares of the railroad operator’s stock valued at $1,797,000 after buying an additional 356 shares in the last quarter. Atlas Capital Advisors LLC boosted its position in Norfolk Southern by 65.4% in the second quarter. Atlas Capital Advisors LLC now owns 4,844 shares of the railroad operator’s stock valued at $966,000 after buying an additional 1,916 shares in the last quarter. Finally, JBJ Investment Partners LLC boosted its position in Norfolk Southern by 677.0% in the second quarter. JBJ Investment Partners LLC now owns 1,251 shares of the railroad operator’s stock valued at $249,000 after buying an additional 1,090 shares in the last quarter. Institutional investors and hedge funds own 73.30% of the company’s stock.

In related news, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer F. Scanlon bought 525 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $191.52 per share, with a total value of $100,548.00. Following the purchase, the director now directly owns 525 shares of the company’s stock, valued at $100,548. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

A number of analysts have weighed in on the stock. Cascend Securities lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. ValuEngine lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. TD Securities cut their target price on shares of Norfolk Southern from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. BMO Capital Markets raised their target price on shares of Norfolk Southern from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. Finally, Loop Capital raised their price target on shares of Norfolk Southern to $237.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Two investment 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. Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $205.83.

Shares of NSC stock traded down $3.12 during trading hours on Wednesday, hitting $178.24. 1,220,779 shares of the company’s stock traded hands, compared to its average volume of 2,118,441. The firm has a 50 day moving average price of $195.16. The stock has a market cap of $47.95 billion, a PE ratio of 18.74, a PEG ratio of 1.47 and a beta of 1.31. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.72.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, August 2nd. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.86. Norfolk Southern’s dividend payout ratio (DPR) is currently 39.54%.

Norfolk Southern Company 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.

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

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