Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Quest Partners LLC

Quest Partners LLC increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 89,300.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 894 shares of the railroad operator’s stock after acquiring an additional 893 shares during the quarter. Quest Partners LLC’s holdings in Norfolk Southern were worth $192,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NSC. Oak Thistle LLC grew its position in shares of Norfolk Southern by 37.3% in the second quarter. Oak Thistle LLC now owns 2,144 shares of the railroad operator’s stock valued at $460,000 after purchasing an additional 582 shares during the period. Caprock Group LLC grew its holdings in Norfolk Southern by 11.0% in the 2nd quarter. Caprock Group LLC now owns 11,363 shares of the railroad operator’s stock valued at $2,440,000 after buying an additional 1,126 shares during the period. Acadian Asset Management LLC increased its stake in shares of Norfolk Southern by 4,336.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,925 shares of the railroad operator’s stock valued at $1,056,000 after acquiring an additional 4,814 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Norfolk Southern during the 2nd quarter worth about $79,000. Finally, Umpqua Bank boosted its position in shares of Norfolk Southern by 9.3% in the second quarter. Umpqua Bank now owns 4,555 shares of the railroad operator’s stock worth $978,000 after acquiring an additional 388 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $245.80 on Monday. The company has a market capitalization of $55.53 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 quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock’s 50 day moving average is $240.36 and its two-hundred day moving average is $238.02. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly 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. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the company posted $2.95 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts predict that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Sanford C. Bernstein lowered their price target on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Royal Bank of Canada cut their price objective on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Wells Fargo & Company boosted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Susquehanna raised their price target on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 26th. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $264.24.

Insider Buying and Selling

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