Carret Asset Management LLC Sells 175 Shares of Norfolk Southern Corporation $NSC

Carret Asset Management LLC lowered its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,474 shares of the railroad operator’s stock after selling 175 shares during the period. Carret Asset Management LLC’s holdings in Norfolk Southern were worth $1,145,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Norfolk Southern by 1.2% during the first quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator’s stock worth $4,813,114,000 after purchasing an additional 232,195 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Norfolk Southern by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock worth $2,680,910,000 after purchasing an additional 2,710,930 shares during the period. Boston Partners grew its holdings in Norfolk Southern by 3.4% during the first quarter. Boston Partners now owns 4,159,070 shares of the railroad operator’s stock worth $983,161,000 after purchasing an additional 138,678 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Norfolk Southern by 0.7% during the first quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator’s stock worth $947,006,000 after purchasing an additional 29,753 shares during the period. Finally, American Century Companies Inc. grew its holdings in Norfolk Southern by 6.4% during the first quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator’s stock worth $740,891,000 after purchasing an additional 189,076 shares during the period. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NSC. Royal Bank Of Canada reduced their price objective on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a report on Friday, October 24th. Evercore ISI boosted their price objective on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Citigroup reduced their price objective on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Barclays boosted their price objective on Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings cut Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $299.70.

Insider Buying and Selling at Norfolk Southern

In related news, Director Richard H. Anderson bought 2,600 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were purchased at an average price of $281.86 per share, with a total value of $732,836.00. Following the completion of the purchase, the director owned 7,000 shares in the company, valued at $1,973,020. This represents a 59.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.06% of the company’s stock.

Norfolk Southern Stock Up 0.8%

Shares of NSC opened at $281.69 on Friday. The firm has a 50 day simple moving average of $285.55 and a two-hundred day simple moving average of $264.29. The company has a market cap of $63.21 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $302.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.25 EPS. Research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s payout ratio is presently 41.19%.

Norfolk Southern Company Profile

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.