Clarius Group LLC Lowers Stock Position in Norfolk Southern Co. (NYSE:NSC)

Clarius Group LLC trimmed its stake in Norfolk Southern Co. (NYSE:NSC) by 5.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,879 shares of the railroad operator’s stock after selling 98 shares during the period. Clarius Group LLC’s holdings in Norfolk Southern were worth $403,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in NSC. Raleigh Capital Management Inc. raised its stake in Norfolk Southern by 4.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after purchasing an additional 40 shares during the period. MCF Advisors LLC increased its stake in Norfolk Southern by 4.2% during the fourth quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock worth $240,000 after acquiring an additional 41 shares during the last quarter. Fiduciary Group LLC grew its holdings in shares of Norfolk Southern by 0.4% during the 4th quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock worth $2,360,000 after purchasing an additional 41 shares during the period. ZWJ Investment Counsel Inc. increased its position in shares of Norfolk Southern by 0.6% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock worth $1,762,000 after acquiring an additional 43 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in Norfolk Southern by 2.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock valued at $397,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC stock traded down $3.79 during trading on Friday, hitting $238.24. The company had a trading volume of 72,938 shares, compared to its average volume of 1,299,134. The firm has a market capitalization of $53.82 billion, a price-to-earnings ratio of 38.97, a P/E/G 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. The business has a 50 day moving average of $226.11 and a 200 day moving average of $238.43. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $2.95 EPS. As a group, research analysts predict that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.27%. Norfolk Southern’s payout ratio is presently 86.96%.

Wall Street Analyst Weigh In

NSC has been the subject of several recent research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Susquehanna lifted their price objective on Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Benchmark lifted their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays decreased their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Finally, TD Cowen increased their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.24.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at $1,534,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the stock in a transaction on Friday, June 14th. The shares were purchased 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 directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 10,350 shares of company stock valued at $2,353,715. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.