Securian Asset Management Inc. Sells 361 Shares of Norfolk Southern Co. (NYSE:NSC)

Securian Asset Management Inc. decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,943 shares of the railroad operator’s stock after selling 361 shares during the quarter. Securian Asset Management Inc.’s holdings in Norfolk Southern were worth $2,779,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NSC. State of Tennessee Treasury Department grew its holdings in shares of Norfolk Southern by 209.3% in the fourth 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. Cerity Partners LLC grew its position in Norfolk Southern by 37.1% in the fourth quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock worth $35,692,000 after acquiring an additional 40,861 shares in the last quarter. Catalytic Wealth RIA LLC bought a new stake in Norfolk Southern during the fourth quarter worth approximately $608,000. Tyche Wealth Partners LLC purchased a new stake in Norfolk Southern during the fourth quarter valued at approximately $984,000. Finally, Buckingham Strategic Wealth LLC lifted its stake 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 valued at $22,783,000 after purchasing an additional 6,306 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NYSE:NSC traded down $3.23 during trading hours on Monday, reaching $236.39. 213,245 shares of the company were exchanged, compared to its average volume of 1,296,179. The stock’s 50-day moving average is $226.41 and its 200-day moving average is $238.42. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The firm has a market cap of $53.40 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32. 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 (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the company posted $2.95 EPS. Norfolk Southern’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 2nd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was bought at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the acquisition, the director now owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the 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 owns 1,488 shares in the company, valued at $371,077.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 2,000 shares of Norfolk Southern stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 10,350 shares of company stock worth $2,353,715. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NSC shares. Barclays decreased their price target on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Susquehanna increased their target price on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. TD Cowen raised 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. Wells Fargo & Company raised their price target 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 reduced their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and an average price target of $264.24.

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.