Bradley Foster & Sargent Inc. CT Has $4.45 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Bradley Foster & Sargent Inc. CT reduced its position in Norfolk Southern Co. (NYSE:NSC) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,724 shares of the railroad operator’s stock after selling 131 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Norfolk Southern were worth $4,449,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cedar Wealth Management LLC acquired a new position in Norfolk Southern in the 1st quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new position in Norfolk Southern in the 2nd quarter worth about $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern in the 2nd quarter worth about $31,000. Rise Advisors LLC acquired a new position in Norfolk Southern in the 1st quarter worth about $34,000. Finally, Hobbs Group Advisors LLC acquired a new position in Norfolk Southern in the 2nd quarter worth about $34,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $249.29 on Thursday. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The firm has a market capitalization of $56.32 billion, a PE ratio of 40.14, a PEG ratio of 2.48 and a beta of 1.31. The business’s 50 day moving average is $242.36 and its 200-day moving average is $237.97. 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 announced its quarterly earnings data 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. The company had revenue of $3.04 billion for 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%. Norfolk Southern’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. Sell-side analysts predict that Norfolk Southern Co. will post 11.8 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio is 86.96%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada dropped their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Stifel Nicolaus increased their price objective on Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a report on Friday, July 26th. Morgan Stanley reissued an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. Wells Fargo & Company increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Benchmark increased their price objective on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

Insider Activity at Norfolk Southern

In related news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $371,077.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $371,077.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sameh Fahmy purchased 700 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now owns 7,700 shares in the company, valued at $1,887,655. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

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.