Headlands Technologies LLC Sells 1,571 Shares of Norfolk Southern Corporation $NSC

Headlands Technologies LLC reduced its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 31.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,385 shares of the railroad operator’s stock after selling 1,571 shares during the quarter. Headlands Technologies LLC’s holdings in Norfolk Southern were worth $1,065,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $327,000. Schnieders Capital Management LLC. boosted its position in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC boosted its position in shares of Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after acquiring an additional 2,979 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 3.2%

Shares of NSC stock opened at $331.67 on Wednesday. The firm has a market capitalization of $74.50 billion, a P/E ratio of 28.30, a P/E/G ratio of 5.14 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The stock’s fifty day simple moving average is $334.25 and its 200 day simple moving average is $315.37.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company earned $3.29 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 12.74 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.08%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird boosted their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Citigroup lifted their price target on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. UBS Group restated a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a research report on Friday, July 24th. Stephens raised Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Finally, Susquehanna lifted their target price on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.