Duff & Phelps Investment Management Co. Buys 29,318 Shares of Norfolk Southern Co. (NYSE:NSC)

Duff & Phelps Investment Management Co. increased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 32.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,767 shares of the railroad operator’s stock after buying an additional 29,318 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Norfolk Southern were worth $25,713,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NSC. State of Tennessee Treasury Department boosted its stake in shares of Norfolk Southern by 209.3% in the 4th quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock valued at $26,454,000 after purchasing an additional 75,729 shares in the last quarter. Seven Eight Capital LP bought a new stake in Norfolk Southern during the second quarter worth about $1,676,000. Manning & Napier Advisors LLC bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $13,627,000. Buckingham Strategic Wealth LLC boosted its holdings in shares of Norfolk Southern by 7.0% in the 4th quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock worth $22,783,000 after acquiring an additional 6,306 shares in the last quarter. Finally, Broderick Brian C bought a new stake in Norfolk Southern during the 1st quarter worth approximately $956,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity

In related news, 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 transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, 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 SEC, which is available through the SEC website. Also, Director Richard H. Anderson purchased 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was bought at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $742,440. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NSC has been the subject of several research analyst reports. TD Cowen lifted their price objective on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Evercore ISI upped their price target on shares of Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research report on Wednesday. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada decreased their price target on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $264.89.

Norfolk Southern Trading Up 0.9 %

NYSE NSC opened at $246.47 on Friday. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The stock has a 50-day simple moving average of $244.95 and a 200 day simple moving average of $237.42. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $55.68 billion, a PE ratio of 39.69, a P/E/G ratio of 2.40 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating 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 company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the business posted $2.95 EPS. Norfolk Southern’s revenue was up 2.1% on a year-over-year basis. Research analysts forecast that Norfolk Southern Co. will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.19%. Norfolk Southern’s dividend payout ratio is 86.96%.

Norfolk Southern 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.