Sciencast Management LP Sells 3,395 Shares of Norfolk Southern Co. (NYSE:NSC)

Sciencast Management LP trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 67.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,625 shares of the railroad operator’s stock after selling 3,395 shares during the period. Sciencast Management LP’s holdings in Norfolk Southern were worth $414,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Norfolk Southern during the fourth quarter worth approximately $2,933,000. State of Tennessee Treasury Department raised its holdings in Norfolk Southern by 209.3% during the fourth quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock worth $26,454,000 after buying an additional 75,729 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Norfolk Southern in the fourth quarter valued at $1,444,000. Cerity Partners LLC grew its holdings in shares of Norfolk Southern by 37.1% during the fourth quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock valued at $35,692,000 after buying an additional 40,861 shares during the last quarter. Finally, Catalytic Wealth RIA LLC bought a new stake in shares of Norfolk Southern during the fourth quarter worth about $608,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $219.25 per share, with a total value of $438,500.00. Following the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the purchase, the director now owns 7,000 shares in the company, valued at approximately $1,534,750. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Loop Capital raised their price objective on Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Benchmark reiterated a “buy” rating and set a $277.00 price objective on shares of Norfolk Southern in a research note on Thursday, April 25th. Stifel Nicolaus boosted their price objective on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 12th. The Goldman Sachs Group raised their target price on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $263.82.

Norfolk Southern Trading Up 0.2 %

Norfolk Southern stock traded up $0.41 during mid-day trading on Friday, reaching $221.35. 942,825 shares of the company traded hands, compared to its average volume of 1,118,378. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66. The firm has a market capitalization of $50.01 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 2.16 and a beta of 1.32. The firm’s 50 day moving average price is $222.80 and its 200 day moving average price is $237.77.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the company earned $3.32 earnings per share. Norfolk Southern’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts anticipate that Norfolk Southern Co. will post 11.73 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.44%. Norfolk Southern’s payout ratio is presently 86.96%.

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.