Sepio Capital LP Sells 1,986 Shares of Norfolk Southern Co. (NYSE:NSC)

Sepio Capital LP trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 11.6% in the second quarter, Holdings Channel.com reports. The firm owned 15,199 shares of the railroad operator’s stock after selling 1,986 shares during the quarter. Sepio Capital LP’s holdings in Norfolk Southern were worth $3,263,000 as of its most recent SEC filing.

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

Norfolk Southern Trading Up 0.9 %

NSC stock opened at $246.49 on Friday. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The stock has a market cap of $55.69 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. The company has a fifty day moving average price of $244.95 and a two-hundred day moving average price of $237.59. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. Equities analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.19%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s payout ratio is 86.96%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the acquisition, 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 SEC, which is available through this hyperlink. In other news, Director Richard H. Anderson bought 2,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $247.48 per share, with a total value of $494,960.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at $742,440. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sameh Fahmy purchased 700 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the acquisition, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NSC. Sanford C. Bernstein decreased their price objective on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Royal Bank of Canada lowered their price objective 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. Wells Fargo & Company increased their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI lifted their price target on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, TD Cowen increased their price objective on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” 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 thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $264.89.

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.