First City Capital Management Inc. Has $364,000 Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

First City Capital Management Inc. trimmed its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 29.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,695 shares of the railroad operator’s stock after selling 701 shares during the quarter. First City Capital Management Inc.’s holdings in Norfolk Southern were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raleigh Capital Management Inc. lifted its holdings in shares of Norfolk Southern by 4.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock valued at $226,000 after acquiring an additional 40 shares during the period. Hall Capital Management Co. Inc. lifted its holdings in Norfolk Southern by 2.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after purchasing an additional 42 shares during the last quarter. Blue Chip Partners LLC grew its stake in Norfolk Southern by 0.5% during the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after buying an additional 42 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after buying an additional 42 shares in the last quarter. Finally, Indiana Trust & Investment Management CO increased its holdings in shares of Norfolk Southern by 3.0% during the first quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock worth $376,000 after buying an additional 43 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on NSC. Susquehanna increased their price target on Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada decreased their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. TD Cowen lifted their price target on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday, July 26th. Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. Finally, Sanford C. Bernstein decreased their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. 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 stock. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $264.24.

Insider Buying and Selling

In other news, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following 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 SEC, which is available at this link. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought 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 in the company, valued at $1,887,655. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Down 1.6 %

Shares of NYSE NSC opened at $247.86 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The company’s fifty day moving average is $243.51 and its 200-day moving average is $237.85. The stock has a market cap of $56.00 billion, a price-to-earnings ratio of 39.91, a P/E/G ratio of 2.48 and a beta of 1.31.

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, beating the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion during 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 EPS. Equities research analysts predict that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors 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 yield of 2.18%. Norfolk Southern’s dividend payout ratio is currently 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.