Intech Investment Management LLC Has $1.72 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Intech Investment Management LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 20.0% in the 1st quarter, Holdings Channel reports. The fund owned 6,745 shares of the railroad operator’s stock after selling 1,683 shares during the period. Intech Investment Management LLC’s holdings in Norfolk Southern were worth $1,719,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State of Tennessee Treasury Department raised its stake 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 acquiring an additional 75,729 shares in the last quarter. Cerity Partners LLC raised its stake in Norfolk Southern by 37.1% during the fourth quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock worth $35,692,000 after acquiring an additional 40,861 shares in the last quarter. Catalytic Wealth RIA LLC acquired a new position in Norfolk Southern during the fourth quarter worth about $608,000. Tyche Wealth Partners LLC acquired a new position in Norfolk Southern during the fourth quarter worth about $984,000. Finally, BKM Wealth Management LLC acquired a new position in Norfolk Southern during the fourth quarter worth about $1,352,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 1.1 %

NSC stock traded down $2.43 during trading on Friday, hitting $227.95. The company had a trading volume of 1,205,008 shares, compared to its average volume of 1,210,892. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average of $222.88 and a 200-day moving average of $237.60. The stock has a market cap of $51.50 billion, a PE ratio of 36.71, a PEG ratio of 2.25 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the firm posted $3.32 earnings per share. Norfolk Southern’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts predict that Norfolk Southern Co. will post 11.62 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.37%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Claude Mongeau bought 5,650 shares of the stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $4,420,000. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NSC. Stifel Nicolaus lowered their target price on Norfolk Southern from $241.00 to $239.00 and set a “hold” rating for the company in a research note on Wednesday. Morgan Stanley restated an “underweight” rating and set a $175.00 price target on shares of Norfolk Southern in a report on Monday, July 8th. UBS Group reduced their price target on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Wells Fargo & Company reduced their price target on Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $263.53.

About Norfolk Southern

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.