Norfolk Southern Corporation $NSC Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in Norfolk Southern Corporation (NYSE:NSC) by 46.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,935 shares of the railroad operator’s stock after selling 14,016 shares during the quarter. Wellington Management Group LLP’s holdings in Norfolk Southern were worth $5,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at approximately $27,000. Comprehensive Financial Planning Inc. PA bought a new position in Norfolk Southern during the second quarter worth $31,000. Finally, Kimelman & Baird LLC bought a new position in Norfolk Southern during the second quarter worth $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on NSC shares. TD Cowen boosted their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Evercore set a $358.00 price target on shares of Norfolk Southern in a report on Thursday, July 23rd. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Stock Performance

NSC stock opened at $323.45 on Thursday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The stock has a market capitalization of $72.65 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 4.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The stock’s fifty day moving average is $336.04 and its two-hundred day moving average is $315.91.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 EPS. On average, research analysts predict that Norfolk Southern Corporation will post 12.87 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s payout ratio is 46.08%.

Norfolk Southern Profile

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.