Thompson Siegel & Walmsley LLC Sells 453 Shares of Norfolk Southern Co. (NYSE:NSC)

Thompson Siegel & Walmsley LLC lowered its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,629 shares of the railroad operator’s stock after selling 453 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Norfolk Southern were worth $4,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Wealth Management LLC bought a new position in Norfolk Southern in the 1st quarter valued at approximately $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern during the second quarter valued at $27,000. Financial Connections Group Inc. acquired a new position in shares of Norfolk Southern during the second quarter worth $31,000. Rise Advisors LLC bought a new stake in shares of Norfolk Southern in the first quarter worth $34,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Norfolk Southern in the second quarter valued at $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $245.80 on Monday. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The stock’s 50 day moving average is $240.36 and its 200-day moving average is $238.02. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $55.53 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. The firm had revenue of $3.04 billion for 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%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 earnings per share. Sell-side analysts forecast that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.20%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. TD Cowen lifted their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Sanford C. Bernstein reduced their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Susquehanna upped their price objective on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada dropped their target price on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $264.24.

Insiders Place Their Bets

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

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.