Vestor Capital LLC increased its stake in Norfolk Southern Corp. (NYSE:NSC) by 19.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,548 shares of the railroad operator’s stock after acquiring an additional 16,661 shares during the period. Norfolk Southern makes up about 3.7% of Vestor Capital LLC’s holdings, making the stock its 3rd largest holding. Vestor Capital LLC’s holdings in Norfolk Southern were worth $20,840,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Norfolk Southern in the first quarter valued at $25,000. Weaver Consulting Group acquired a new stake in Norfolk Southern in the first quarter valued at $30,000. AGF Investments LLC raised its stake in Norfolk Southern by 173.5% in the second quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after buying an additional 118 shares in the last quarter. Coastal Capital Group Inc. acquired a new stake in Norfolk Southern in the second quarter valued at $40,000. Finally, Bedel Financial Consulting Inc. acquired a new stake in Norfolk Southern in the second quarter valued at $41,000. Institutional investors and hedge funds own 73.26% of the company’s stock.
Shares of NSC stock traded down $4.17 during mid-day trading on Friday, hitting $169.62. 50,593 shares of the stock were exchanged, compared to its average volume of 2,109,604. The stock’s fifty day simple moving average is $188.25 and its two-hundred day simple moving average is $190.54. The stock has a market capitalization of $45.26 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.39 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 debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 0.78.
The company also recently disclosed 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 is a positive change from Norfolk Southern’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $3.76 annualized dividend and a dividend yield of 2.22%. Norfolk Southern’s dividend payout ratio (DPR) is presently 39.54%.
In other news, Director Jennifer F. Scanlon acquired 525 shares of the company’s stock in a transaction on Monday, July 29th. The shares were bought at an average price of $191.52 per share, with a total value of $100,548.00. Following the completion of the acquisition, the director now owns 525 shares in the company, valued at approximately $100,548. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.
A number of analysts have weighed in on the company. Morgan Stanley set a $130.00 price target on Norfolk Southern and gave the company a “sell” rating in a research note on Monday, July 8th. Loop Capital raised their price target on Norfolk Southern to $237.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Argus raised their price target on Norfolk Southern from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Cascend Securities cut Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, ValuEngine cut Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $205.83.
About Norfolk Southern
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.
Further Reading: What are the risks of holding treasury bonds?
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).
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.