Symmetry Partners LLC Has $534,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Symmetry Partners LLC cut its stake in Norfolk Southern Co. (NYSE:NSC) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,486 shares of the railroad operator’s stock after selling 298 shares during the period. Symmetry Partners LLC’s holdings in Norfolk Southern were worth $534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NSC. 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 lifted its holdings in Norfolk Southern by 37.1% during the 4th quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock valued at $35,692,000 after purchasing an additional 40,861 shares during the last quarter. Catalytic Wealth RIA LLC acquired a new position in Norfolk Southern in the fourth quarter valued at about $608,000. Tyche Wealth Partners LLC bought a new stake in Norfolk Southern during the fourth quarter worth about $984,000. Finally, Buckingham Strategic Wealth LLC increased its holdings in shares of Norfolk Southern by 7.0% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock worth $22,783,000 after buying an additional 6,306 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NSC shares. UBS Group cut their price target on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus upped their price objective on Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a report on Friday, July 26th. Barclays lowered their price target on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Sanford C. Bernstein dropped their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, Royal Bank of Canada lowered their price target on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $264.24.

Norfolk Southern Stock Performance

Shares of NSC stock traded down $1.89 during midday trading on Friday, hitting $240.14. 284,958 shares of the company were exchanged, compared to its average volume of 1,300,519. The firm has a market capitalization of $54.25 billion, a P/E ratio of 38.56, a PEG ratio of 2.41 and a beta of 1.32. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The firm’s 50 day moving average price is $226.11 and its two-hundred day moving average price is $238.43. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. Norfolk Southern’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 EPS. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 2nd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s payout ratio is 86.96%.

Insider Buying and Selling

In related news, Director Claude Mongeau bought 5,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Norfolk Southern news, Director Claude Mongeau acquired 5,650 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $221.00 per share, for a total transaction of $1,248,650.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $4,420,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy acquired 2,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $219.25 per share, with a total value of $438,500.00. Following the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 10,350 shares of company stock valued at $2,353,715. Company insiders own 0.19% of the company’s stock.

Norfolk Southern 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.