Norfolk Southern Co. (NYSE:NSC) Position Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,502 shares of the railroad operator’s stock after selling 1,123 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Norfolk Southern were worth $6,119,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State of Tennessee Treasury Department raised its position in shares of Norfolk Southern by 209.3% during the fourth quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock worth $26,454,000 after purchasing an additional 75,729 shares during the period. Catalytic Wealth RIA LLC purchased a new position in Norfolk Southern in the 4th quarter worth about $608,000. Manning & Napier Advisors LLC acquired a new stake in Norfolk Southern during the 2nd quarter worth about $13,627,000. Buckingham Strategic Wealth LLC lifted its stake in Norfolk Southern by 7.0% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock valued at $22,783,000 after buying an additional 6,306 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its holdings in shares of Norfolk Southern by 1.5% in the fourth quarter. Evermay Wealth Management LLC now owns 4,667 shares of the railroad operator’s stock worth $1,103,000 after buying an additional 67 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Richard H. Anderson acquired 2,000 shares of the stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $742,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Susquehanna upped their price target on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Benchmark raised their target price on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. 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 research report on Friday, July 26th. Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. Finally, Sanford C. Bernstein reduced their price target on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $264.24.

Norfolk Southern Stock Performance

NYSE:NSC opened at $247.85 on Friday. The firm has a market capitalization of $55.99 billion, a PE ratio of 39.91, a PEG 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 Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The firm’s fifty day simple moving average is $243.51 and its 200 day simple moving average is $237.99.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. Norfolk Southern’s dividend payout ratio is 86.96%.

About Norfolk Southern

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.