Norfolk Southern Corp. (NYSE:NSC) Shares Sold by Moneta Group Investment Advisors LLC

Moneta Group Investment Advisors LLC reduced its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 75.6% in the 2nd quarter, Holdings reports. The firm owned 718 shares of the railroad operator’s stock after selling 2,220 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Norfolk Southern were worth $710,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Krane Funds Advisors LLC purchased a new position in Norfolk Southern during the 2nd quarter worth $26,000. Weaver Consulting Group purchased a new stake in shares of Norfolk Southern in the first quarter valued at about $30,000. AGF Investments LLC raised its holdings in shares of 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 during the last quarter. Coastal Capital Group Inc. acquired a new stake in shares of Norfolk Southern during the second quarter worth about $40,000. Finally, Bedel Financial Consulting Inc. acquired a new stake in shares of Norfolk Southern during the second quarter worth about $41,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.

Shares of NSC traded down $3.31 during mid-day trading on Wednesday, hitting $175.27. The company’s stock had a trading volume of 1,098,024 shares, compared to its average volume of 1,365,859. 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 Corp. has a 1-year low of $138.65 and a 1-year high of $211.46. The firm has a market capitalization of $46.71 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.48 and a beta of 1.34. The firm has a 50-day simple moving average of $178.07 and a 200 day simple moving average of $190.20.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data 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 business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.95 billion. Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $2.50 EPS. As a group, sell-side analysts predict that Norfolk Southern Corp. will post 10.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s payout ratio is presently 39.54%.

In related news, Director Jennifer F. Scanlon purchased 525 shares of the 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 purchase, the director now directly owns 525 shares in the company, valued at approximately $100,548. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

NSC has been the topic of several recent research reports. Deutsche Bank dropped their price target on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating on the stock in a research report on Wednesday, June 12th. Goldman Sachs Group began coverage on Norfolk Southern in a research report on Wednesday, July 10th. They set a “buy” rating and a $237.00 price objective for the company. Morgan Stanley set a $130.00 target price on Norfolk Southern and gave the company a “sell” rating in a research note on Monday, July 8th. Bank of America boosted their target price on Norfolk Southern from $212.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, Cascend Securities cut Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. 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 has a consensus rating of “Hold” and a consensus target price of $206.39.

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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