Norfolk Southern Co. (NYSE:NSC) Shares Sold by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL trimmed its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,123 shares of the railroad operator’s stock after selling 654 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Norfolk Southern were worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Carson Advisory Inc. acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $231,000. Malaga Cove Capital LLC lifted its position in Norfolk Southern by 66.6% during the 2nd quarter. Malaga Cove Capital LLC now owns 2,401 shares of the railroad operator’s stock worth $515,000 after acquiring an additional 960 shares during the period. Daiwa Securities Group Inc. lifted its position in Norfolk Southern by 16.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 25,933 shares of the railroad operator’s stock worth $5,567,000 after acquiring an additional 3,579 shares during the period. Royal London Asset Management Ltd. lifted its position in Norfolk Southern by 4.8% during the 2nd quarter. Royal London Asset Management Ltd. now owns 89,857 shares of the railroad operator’s stock worth $19,291,000 after acquiring an additional 4,113 shares during the period. Finally, Longfellow Investment Management Co. LLC lifted its position in Norfolk Southern by 127.6% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 4,498 shares of the railroad operator’s stock worth $966,000 after acquiring an additional 2,522 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NSC stock opened at $257.37 on Wednesday. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The stock’s fifty day simple moving average is $238.25 and its 200-day simple moving average is $238.06. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $58.14 billion, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 2.44 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the firm earned $2.95 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Richard H. Anderson acquired 2,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at $742,440. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Richard H. Anderson bought 2,000 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $742,440. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. Insiders have acquired 4,700 shares of company stock worth $1,105,065 over the last quarter. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Sanford C. Bernstein cut their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Morgan Stanley reissued an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Susquehanna increased their target price on Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Benchmark increased their target price on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.