Fiduciary Trust Co. raised its position in Norfolk Southern Corp. (NYSE:NSC) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,044 shares of the railroad operator’s stock after purchasing an additional 500 shares during the quarter. Fiduciary Trust Co.’s holdings in Norfolk Southern were worth $2,420,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Advisor Partners LLC raised its position in Norfolk Southern by 5.3% in the second quarter. Advisor Partners LLC now owns 6,266 shares of the railroad operator’s stock valued at $945,000 after purchasing an additional 317 shares during the last quarter. Dorsey Wright & Associates raised its position in Norfolk Southern by 8.0% in the second quarter. Dorsey Wright & Associates now owns 4,461 shares of the railroad operator’s stock valued at $673,000 after purchasing an additional 329 shares during the last quarter. Parallel Advisors LLC raised its position in Norfolk Southern by 21.8% in the second quarter. Parallel Advisors LLC now owns 1,882 shares of the railroad operator’s stock valued at $283,000 after purchasing an additional 337 shares during the last quarter. Fayez Sarofim & Co raised its position in Norfolk Southern by 2.7% in the first quarter. Fayez Sarofim & Co now owns 13,509 shares of the railroad operator’s stock valued at $1,834,000 after purchasing an additional 350 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in Norfolk Southern by 1.2% in the first quarter. Moors & Cabot Inc. now owns 29,006 shares of the railroad operator’s stock valued at $3,938,000 after purchasing an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 73.45% of the company’s stock.

In related news, COO Michael Joseph Wheeler sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $151.33, for a total transaction of $302,660.00. Following the completion of the sale, the chief operating officer now owns 10,207 shares of the company’s stock, valued at $1,544,625.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.

Several equities analysts have commented on the company. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, June 26th. Stifel Nicolaus increased their target price on Norfolk Southern from $159.00 to $176.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Credit Suisse Group increased their price target on Norfolk Southern from $176.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Citigroup raised Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 price target for the company in a research note on Monday, June 25th. Finally, UBS Group increased their price target on Norfolk Southern from $182.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Norfolk Southern presently has an average rating of “Hold” and a consensus target price of $159.72.

Shares of NSC stock opened at $171.69 on Friday. The stock has a market capitalization of $48.36 billion, a PE ratio of 25.97, a P/E/G ratio of 1.60 and a beta of 1.39. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.55. Norfolk Southern Corp. has a 1-year low of $114.89 and a 1-year high of $174.43.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.19. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Norfolk Southern had a return on equity of 14.53% and a net margin of 52.36%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 earnings per share. research analysts predict that Norfolk Southern Corp. will post 9.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Monday, August 6th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $3.20 annualized dividend and a yield of 1.86%. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.72. Norfolk Southern’s dividend payout ratio (DPR) is currently 48.41%.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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

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