Signaturefd LLC increased its position in Norfolk Southern Corp. (NYSE:NSC) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,367 shares of the railroad operator’s stock after purchasing an additional 90 shares during the period. Signaturefd LLC’s holdings in Norfolk Southern were worth $671,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Joseph P. Lucia & Associates LLC purchased a new stake in Norfolk Southern in the 1st quarter valued at $25,000. Weaver Consulting Group purchased a new stake in Norfolk Southern in the 1st quarter valued at $30,000. AGF Investments LLC raised its position in Norfolk Southern by 173.5% in the 2nd quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after buying an additional 118 shares during the last quarter. Coastal Capital Group Inc. purchased a new stake in Norfolk Southern in the 2nd quarter valued at $40,000. Finally, Advisory Alpha LLC purchased a new stake in Norfolk Southern in the 1st quarter valued at $42,000. Institutional investors own 73.49% of the company’s stock.
Shares of Norfolk Southern stock traded up $3.40 during trading hours on Tuesday, hitting $177.94. 859,220 shares of the company’s stock traded hands, compared to its average volume of 2,318,321. Norfolk Southern Corp. has a 12-month low of $138.65 and a 12-month high of $211.46. The stock has a market capitalization of $45.98 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.44 and a beta of 1.31. The stock’s fifty day moving average is $193.02. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.78 and a quick ratio of 0.68.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 5th will be paid a dividend of $0.94 per share. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $3.76 annualized dividend and a dividend yield of 2.11%. Norfolk Southern’s dividend payout ratio is presently 39.54%.
NSC has been the subject of a number of analyst reports. Goldman Sachs Group initiated coverage on Norfolk Southern in a research report on Wednesday, July 10th. They issued a “buy” rating and a $237.00 price target for the company. Cascend Securities lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Deutsche Bank lowered their price target on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating for the company in a research report on Wednesday, June 12th. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $226.00 price target for the company in a research report on Thursday, May 9th. Finally, TD Securities lowered their price target on Norfolk Southern from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. Norfolk Southern has an average rating of “Hold” and a consensus price target of $205.83.
In other news, Chairman James A. Squires sold 3,024 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total transaction of $619,043.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer F. Scanlon purchased 525 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $191.52 per share, with a total value of $100,548.00. Following the purchase, the director now directly owns 525 shares in the company, valued at approximately $100,548. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.
About Norfolk Southern
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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