Securian Asset Management Inc lifted its position in Norfolk Southern Corp. (NYSE:NSC) by 0.6% in the second quarter, HoldingsChannel.com reports. The firm owned 27,967 shares of the railroad operator’s stock after acquiring an additional 164 shares during the period. Securian Asset Management Inc’s holdings in Norfolk Southern were worth $5,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NSC. FMR LLC raised its stake in shares of Norfolk Southern by 27.4% in the first quarter. FMR LLC now owns 9,875,360 shares of the railroad operator’s stock valued at $1,845,606,000 after purchasing an additional 2,123,713 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Norfolk Southern by 27.7% in the first quarter. Lazard Asset Management LLC now owns 7,333,967 shares of the railroad operator’s stock valued at $1,370,644,000 after purchasing an additional 1,592,303 shares in the last quarter. Ellis Investment Partners LLC raised its stake in shares of Norfolk Southern by 15,974.1% in the first quarter. Ellis Investment Partners LLC now owns 435,609 shares of the railroad operator’s stock valued at $435,000 after purchasing an additional 432,899 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Norfolk Southern by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 12,864,410 shares of the railroad operator’s stock valued at $2,404,230,000 after purchasing an additional 430,110 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its stake in shares of Norfolk Southern by 19,302.3% in the second quarter. Thoroughbred Financial Services LLC now owns 378,926 shares of the railroad operator’s stock valued at $37,893,000 after purchasing an additional 376,973 shares in the last quarter. Institutional investors and hedge funds own 73.26% of the company’s stock.

In related news, Director Jennifer F. Scanlon acquired 525 shares of the company’s stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the completion of the purchase, the director now directly owns 525 shares of the company’s stock, valued at approximately $100,548. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

A number of research analysts recently commented on NSC shares. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 target price for the company in a research note on Thursday, May 9th. Goldman Sachs Group started coverage on Norfolk Southern in a research note on Wednesday, July 10th. They issued a “buy” rating and a $237.00 target price for the company. Deutsche Bank cut their target price on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating for the company in a research note on Wednesday, June 12th. ValuEngine lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Cascend Securities lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Norfolk Southern currently has an average rating of “Hold” and a consensus target price of $205.83.

Norfolk Southern stock traded up $2.47 during mid-day trading on Wednesday, hitting $174.29. 267,561 shares of the company were exchanged, compared to its average volume of 2,143,859. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $189.33 and a 200 day moving average of $190.50. Norfolk Southern Corp. has a 1-year low of $138.65 and a 1-year high of $211.46. The company has a market capitalization of $45.57 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.77 by ($0.07). Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. Research analysts expect that Norfolk Southern Corp. will post 10.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.94 per share. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 39.54%.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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