Financial Counselors Inc. Reduces Stock Position in Norfolk Southern Co. (NYSE:NSC)

Financial Counselors Inc. lowered its position in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 5.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,396 shares of the railroad operator’s stock after selling 448 shares during the period. Financial Counselors Inc.’s holdings in Norfolk Southern were worth $1,885,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC lifted its position in shares of Norfolk Southern by 25.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,003 shares of the railroad operator’s stock worth $511,000 after purchasing an additional 400 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Norfolk Southern by 9.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,354 shares of the railroad operator’s stock worth $5,697,000 after purchasing an additional 1,875 shares during the period. Graypoint LLC lifted its position in shares of Norfolk Southern by 8.7% in the 1st quarter. Graypoint LLC now owns 2,018 shares of the railroad operator’s stock worth $514,000 after purchasing an additional 161 shares during the period. Haverford Trust Co lifted its position in shares of Norfolk Southern by 2.9% in the 1st quarter. Haverford Trust Co now owns 14,599 shares of the railroad operator’s stock worth $3,721,000 after purchasing an additional 416 shares during the period. Finally, Waycross Partners LLC lifted its position in shares of Norfolk Southern by 9.5% in the 1st quarter. Waycross Partners LLC now owns 41,099 shares of the railroad operator’s stock worth $10,475,000 after purchasing an additional 3,550 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms have recently commented on NSC. Stifel Nicolaus raised their target price on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Sanford C. Bernstein decreased 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. Loop Capital increased their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Barclays decreased their price target on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Finally, The Goldman Sachs Group increased their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus price target of $263.61.

Read Our Latest Analysis on NSC

Norfolk Southern Stock Performance

Shares of NSC stock opened at $213.78 on Wednesday. The company has a 50 day moving average price of $223.66 and a 200-day moving average price of $238.14. 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 $48.30 billion, a PE ratio of 34.43, a P/E/G ratio of 2.03 and a beta of 1.32. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSCGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm earned $3.32 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Norfolk Southern Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSCFree Report).

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.