Bigelow Investment Advisors LLC Sells 60 Shares of Norfolk Southern Co. (NYSE:NSC)

Bigelow Investment Advisors LLC lowered its stake in Norfolk Southern Co. (NYSE:NSC) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,137 shares of the railroad operator’s stock after selling 60 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Norfolk Southern were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NSC. Cedar Wealth Management LLC purchased a new position in Norfolk Southern in the first quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Norfolk Southern during the second quarter worth approximately $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern in the 2nd quarter valued at $31,000. Rise Advisors LLC bought a new position in shares of Norfolk Southern during the 1st quarter valued at $34,000. Finally, Hobbs Group Advisors LLC bought a new stake in Norfolk Southern in the second quarter worth $34,000. 75.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares in the company, valued at $1,887,655. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Norfolk Southern news, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now directly owns 7,700 shares in the company, valued at $1,887,655. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Price Performance

NSC stock opened at $245.80 on Friday. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a 50-day moving average price of $240.36 and a 200 day moving average price of $238.22. The stock has a market cap of $55.58 billion, a PE ratio of 39.58, a P/E/G ratio of 2.48 and a beta of 1.31. 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 (NYSE:NSC) last released its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the company earned $2.95 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern Co. will post 11.8 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.20%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Wall Street Analyst Weigh In

NSC has been the topic of several recent analyst reports. Royal Bank of Canada cut their target price on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Susquehanna boosted their target price on Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a report on Monday, July 8th. Stifel Nicolaus raised their target price on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $264.24.

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.