Choreo LLC Buys 12,203 Shares of Norfolk Southern Co. (NYSE:NSC)

Choreo LLC increased its stake in Norfolk Southern Co. (NYSE:NSC) by 98.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,589 shares of the railroad operator’s stock after acquiring an additional 12,203 shares during the period. Choreo LLC’s holdings in Norfolk Southern were worth $5,265,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Raleigh Capital Management Inc. grew its holdings in Norfolk Southern by 4.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after acquiring an additional 40 shares during the last quarter. Hall Capital Management Co. Inc. increased 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 period. Blue Chip Partners LLC raised its position in Norfolk Southern by 0.5% during the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after purchasing an additional 42 shares during the last quarter. Stephens Consulting LLC lifted its holdings in Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after buying an additional 42 shares during the period. Finally, Indiana Trust & Investment Management CO increased its stake 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 valued at $376,000 after buying an additional 43 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

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 owns 1,488 shares in the company, valued at $371,077.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Nabanita C. Nag sold 355 shares of the 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 owns 1,488 shares of the company’s stock, valued at $371,077.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the transaction, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The disclosure for this purchase can be found here. Insiders have purchased 4,700 shares of company stock valued at $1,105,065 over the last quarter. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Price Performance

NSC opened at $256.93 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The firm has a market cap of $58.09 billion, a PE ratio of 41.37, a P/E/G ratio of 2.44 and a beta of 1.31. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The stock has a 50-day moving average price of $237.42 and a 200-day moving average price of $238.07.

Norfolk Southern (NYSE:NSC) last released 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. 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 analysts’ expectations of $3.04 billion. During the same period in the prior year, the firm posted $2.95 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.10%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Analyst Ratings Changes

A number of brokerages recently commented on NSC. TD Cowen raised their price target on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Sanford C. Bernstein dropped their target price on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Barclays reduced their price target on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Susquehanna lifted their price objective on Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research report 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 on the stock in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.