Norfolk Southern Corp. (NSC) Shares Sold by New York State Teachers Retirement System


New York State Teachers Retirement System lowered its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 459,109 shares of the railroad operator’s stock after selling 2,664 shares during the period. New York State Teachers Retirement System’s holdings in Norfolk Southern were worth $69,266,000 at the end of the most recent reporting period.


Several other institutional investors and hedge funds have also recently bought and sold shares of NSC. Personal Capital Advisors Corp grew its holdings in shares of Norfolk Southern by 6.0% during the second quarter. Personal Capital Advisors Corp now owns 238,999 shares of the railroad operator’s stock worth $36,058,000 after buying an additional 13,631 shares during the last quarter. Dana Investment Advisors Inc. grew its holdings in shares of Norfolk Southern by 761.7% during the second quarter. Dana Investment Advisors Inc. now owns 138,072 shares of the railroad operator’s stock worth $20,831,000 after buying an additional 122,049 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Norfolk Southern by 5,739.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,635 shares of the railroad operator’s stock worth $247,000 after buying an additional 1,607 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Norfolk Southern by 5.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 898,104 shares of the railroad operator’s stock worth $135,497,000 after buying an additional 47,592 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new position in shares of Norfolk Southern during the second quarter worth about $102,000. Institutional investors and hedge funds own 72.75% of the company’s stock.


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A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, June 26th. Stifel Nicolaus raised their price target on Norfolk Southern from $159.00 to $176.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Credit Suisse Group raised their price target on Norfolk Southern from $176.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Citigroup raised Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 price target on the stock in a report on Monday, June 25th. Finally, UBS Group raised their price target on Norfolk Southern from $182.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $157.74.


NSC traded up $0.03 during trading on Thursday, reaching $167.96. The company’s stock had a trading volume of 7,764 shares, compared to its average volume of 1,840,614. Norfolk Southern Corp. has a 52-week low of $111.44 and a 52-week high of $172.81. The firm has a market capitalization of $47.33 billion, a PE ratio of 25.41, a P/E/G ratio of 1.56 and a beta of 1.39. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.19. Norfolk Southern had a return on equity of 14.53% and a net margin of 52.36%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the company earned $1.71 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. sell-side analysts predict that Norfolk Southern Corp. will post 9 EPS for the current year.


The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Monday, August 6th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, August 3rd. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.72. Norfolk Southern’s payout ratio is currently 43.57%.

In other news, VP Thomas E. Hurlbut sold 2,760 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $152.00, for a total transaction of $419,520.00. Following the sale, the vice president now owns 2,760 shares of the company’s stock, valued at approximately $419,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Joseph Wheeler sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $151.33, for a total value of $302,660.00. Following the sale, the chief operating officer now directly owns 10,207 shares in the company, valued at approximately $1,544,625.31. The disclosure for this sale can be found here. Insiders sold a total of 11,348 shares of company stock worth $1,716,507 in the last ninety days. 0.36% of the stock is owned by corporate insiders.


Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)