Norfolk Southern Co. (NYSE:NSC) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 7,022 shares of the railroad operator’s stock after selling 100 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Norfolk Southern were worth $1,508,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State of Tennessee Treasury Department lifted 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 valued at $26,454,000 after purchasing an additional 75,729 shares in the last quarter. Catalytic Wealth RIA LLC purchased a new stake in Norfolk Southern during the 4th quarter worth approximately $608,000. Manning & Napier Advisors LLC acquired a new position in shares of Norfolk Southern during the second quarter valued at approximately $13,627,000. Buckingham Strategic Wealth LLC lifted its position in shares of Norfolk Southern by 7.0% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock valued at $22,783,000 after acquiring an additional 6,306 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its stake in shares of Norfolk Southern by 1.5% in the fourth quarter. Evermay Wealth Management LLC now owns 4,667 shares of the railroad operator’s stock worth $1,103,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts recently commented on NSC shares. Wells Fargo & Company increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Benchmark raised their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada dropped their price objective on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Finally, Susquehanna upped their price target on Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. One 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

Norfolk Southern Trading Down 3.5 %

Shares of NSC stock opened at $245.80 on Monday. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The firm has a market cap of $55.53 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The company has a 50-day moving average of $240.36 and a two-hundred day moving average of $238.02. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54.

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

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.20%. Norfolk Southern’s payout ratio is presently 86.96%.

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.