Teachers Retirement System of The State of Kentucky Sells 1,026 Shares of Norfolk Southern Co. (NYSE:NSC)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,703 shares of the railroad operator’s stock after selling 1,026 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Norfolk Southern were worth $4,767,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NSC. Argus Investors Counsel Inc. bought a new position in shares of Norfolk Southern during the fourth quarter worth approximately $236,000. Trust Point Inc. bought a new position in Norfolk Southern in the fourth quarter valued at approximately $350,000. Ballentine Partners LLC increased its stake in Norfolk Southern by 58.9% in the fourth quarter. Ballentine Partners LLC now owns 4,833 shares of the railroad operator’s stock valued at $1,142,000 after acquiring an additional 1,791 shares during the last quarter. International Assets Investment Management LLC increased its stake in Norfolk Southern by 23,585.8% in the fourth quarter. International Assets Investment Management LLC now owns 351,261 shares of the railroad operator’s stock valued at $83,031,000 after acquiring an additional 349,778 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in Norfolk Southern by 35.0% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 12,669 shares of the railroad operator’s stock valued at $2,995,000 after acquiring an additional 3,288 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 0.7 %

NSC stock traded down $1.69 during midday trading on Friday, hitting $243.41. The stock had a trading volume of 1,254,989 shares, compared to its average volume of 1,289,739. The firm has a market cap of $55.04 billion, a P/E ratio of 39.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The business has a fifty day moving average price of $224.58 and a two-hundred day moving average price of $238.14.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. Norfolk Southern’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.95 earnings per share. On average, sell-side analysts predict that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NSC. Susquehanna lifted their price objective on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Morgan Stanley restated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Jefferies Financial Group began coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, UBS Group cut their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $264.24.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy purchased 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now owns 7,000 shares in the company, valued at approximately $1,534,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sameh Fahmy bought 2,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the transaction, the director now owns 7,000 shares of the company’s stock, valued at $1,534,750. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 9,650 shares of company stock valued at $2,182,110. Corporate insiders own 0.19% of the company’s stock.

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.