Frank Rimerman Advisors LLC Purchases 1,847 Shares of Norfolk Southern Co. (NYSE:NSC)
Frank Rimerman Advisors LLC lifted its position in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 13,192.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1…
Frank Rimerman Advisors LLC Purchases 1,847 Shares of Norfolk Southern Co. (NYSE:NSC)
Frank Rimerman Advisors LLC lifted its position in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 13,192.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,861 shares of the railroad operator’s stock after acquiring an additional 1,847 shares during the period. Frank Rimerman Advisors LLC’s holdings in Norfolk Southern were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in NSC. Boston Partners boosted its holdings in shares of Norfolk Southern by 157.1% in the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after purchasing an additional 1,766,135 shares in the last quarter. Vanguard Group Inc. grew its position in Norfolk Southern by 5.9% in the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after acquiring an additional 1,088,072 shares during the last quarter. Stifel Financial Corp raised its stake in Norfolk Southern by 600.3% during the fourth quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock worth $241,421,000 after acquiring an additional 875,473 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Norfolk Southern by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after purchasing an additional 496,088 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in Norfolk Southern by 1,956.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 451,226 shares of the railroad operator’s stock worth $106,661,000 after purchasing an additional 429,288 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on NSC shares. Sanford C. Bernstein cut their target price on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. TD Cowen boosted their price objective on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company increased their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Benchmark upped their price objective on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus lifted their target price on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research 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’s stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and an average target price of $264.24.
View Our Latest Research Report on NSC
Norfolk Southern Trading Up 0.4 %
NYSE NSC opened at $246.93 on Wednesday. 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 52 week low of $183.09 and a 52 week high of $263.66. The business has a 50 day moving average price of $244.12 and a 200-day moving average price of $237.58. The company has a market cap of $55.78 billion, a price-to-earnings ratio of 39.76, a P/E/G ratio of 2.48 and a beta of 1.31.
Norfolk Southern (NYSE:NSC – Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $2.95 earnings per share. As a group, equities analysts expect that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were given a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. Norfolk Southern’s dividend payout ratio is currently 86.96%.
Insider Activity
In related news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Richard H. Anderson bought 2,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was acquired at an average cost of $247.48 per share, with a total value of $494,960.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $742,440. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
Norfolk Southern Company 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.
Featured Stories
- Five stocks we like better than Norfolk Southern
- How to buy stock: A step-by-step guide for beginners
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- Which Wall Street Analysts are the Most Accurate?
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- How Technical Indicators Can Help You Find Oversold Stocks
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSC – Free Report).
Receive News & Ratings for Norfolk Southern Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Norfolk Southern and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: ETF Daily News