Norfolk Southern Co. (NYSE:NSC) Shares Sold by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lessened its stake in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,286 shares of the railroad operator’s stock after selling 5,514 shares during the period. Vaughan David Investments LLC IL’s holdings in Norfolk Southern were worth $11,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its position in shares of Norfolk Southern by 8.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 1,307 shares of the railroad operator’s stock worth $313,000 after purchasing an additional 107 shares during the period. Creative Planning boosted its holdings in Norfolk Southern by 7.5% during the third quarter. Creative Planning now owns 39,762 shares of the railroad operator’s stock worth $9,513,000 after buying an additional 2,767 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Norfolk Southern by 6.8% in the third quarter. O Shaughnessy Asset Management LLC now owns 5,201 shares of the railroad operator’s stock valued at $1,244,000 after purchasing an additional 333 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Norfolk Southern by 1.7% during the third quarter. Handelsbanken Fonder AB now owns 74,996 shares of the railroad operator’s stock valued at $17,943,000 after buying an additional 1,244 shares during the period. Finally, Tredje AP fonden acquired a new position in Norfolk Southern during the third quarter worth approximately $3,589,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.

Shares of NSC traded up $3.26 during mid-day trading on Friday, reaching $249.32. The company had a trading volume of 1,116,431 shares, compared to its average volume of 1,423,140. The stock has a market cap of $59.42 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.36. The firm has a fifty day simple moving average of $265.24 and a 200-day simple moving average of $274.53. Norfolk Southern Co. has a fifty-two week low of $238.62 and a fifty-two week high of $299.20. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 1.02.

Norfolk Southern (NYSE:NSCGet Rating) last released its earnings results on Wednesday, April 27th. The railroad operator reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.02. Norfolk Southern had a net margin of 26.58% and a return on equity of 21.95%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the firm earned $2.66 EPS. The company’s revenue was up 10.5% on a year-over-year basis. As a group, equities analysts predict that Norfolk Southern Co. will post 13.81 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Friday, May 6th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, May 5th. Norfolk Southern’s payout ratio is 40.03%.

Norfolk Southern announced that its board has initiated a stock repurchase program on Tuesday, March 29th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the railroad operator to purchase up to 14.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of research firms have recently issued reports on NSC. StockNews.com began coverage on shares of Norfolk Southern in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Susquehanna Bancshares dropped their target price on shares of Norfolk Southern from $356.00 to $350.00 in a report on Thursday, April 7th. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $318.00 to $308.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. TD Securities boosted their price objective on shares of Norfolk Southern from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, April 28th. Finally, Royal Bank of Canada increased their price objective on shares of Norfolk Southern from $262.00 to $273.00 in a research note on Thursday, January 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern has an average rating of “Buy” and an average target price of $309.41.

In other news, President Alan H. Shaw sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $256.70, for a total transaction of $256,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven F. Leer sold 700 shares of Norfolk Southern stock in a transaction on Monday, March 14th. The stock was sold at an average price of $265.51, for a total transaction of $185,857.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Norfolk Southern Profile (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

Further Reading

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

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