HighTower Advisors LLC Sells 3,795 Shares of Norfolk Southern Corporation $NSC

HighTower Advisors LLC lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 273,110 shares of the railroad operator’s stock after selling 3,795 shares during the period. HighTower Advisors LLC’s holdings in Norfolk Southern were worth $85,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSC. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth $26,000. JPL Wealth Management LLC acquired a new position in Norfolk Southern in the third quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in Norfolk Southern in the second quarter valued at about $27,000. Comprehensive Financial Planning Inc. PA bought a new stake in Norfolk Southern during the second quarter worth about $31,000. Finally, Kimelman & Baird LLC bought a new stake in Norfolk Southern during the second quarter worth about $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.1%

Shares of NYSE NSC opened at $329.07 on Tuesday. The company has a market cap of $73.91 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 4.89 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The stock has a 50-day moving average price of $335.69 and a two-hundred day moving average price of $315.76.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.29 EPS. As a group, analysts forecast that Norfolk Southern Corporation will post 12.87 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio is 46.08%.

Analyst Ratings Changes

NSC has been the topic of several recent analyst reports. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Wells Fargo & Company increased their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Citigroup boosted their price objective on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Susquehanna upped their target price on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $348.00.

Norfolk Southern Company 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.