EFG Asset Management Americas Corp. Sells 725 Shares of Norfolk Southern Corporation $NSC

EFG Asset Management Americas Corp. reduced its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,106 shares of the railroad operator’s stock after selling 725 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Norfolk Southern were worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Aberdeen Group plc boosted its position in Norfolk Southern by 6.4% in the second quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock worth $135,610,000 after purchasing an additional 31,878 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at about $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Norfolk Southern by 682.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock worth $14,337,000 after acquiring an additional 48,850 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Norfolk Southern by 10.4% in the second quarter. Teacher Retirement System of Texas now owns 116,795 shares of the railroad operator’s stock worth $29,896,000 after purchasing an additional 10,990 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Norfolk Southern by 4.6% in the second quarter. Sequoia Financial Advisors LLC now owns 76,057 shares of the railroad operator’s stock worth $19,468,000 after purchasing an additional 3,367 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $281.85 on Thursday. The company’s 50-day moving average price is $287.31 and its 200-day moving average price is $270.71. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The company has a market cap of $63.24 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the business posted $3.25 EPS. The company’s revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s payout ratio is presently 41.19%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Citigroup dropped their price objective on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. Barclays increased their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, Sanford C. Bernstein dropped their target price on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $301.10.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 1,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $282.97 per share, with a total value of $466,900.50. Following the purchase, the director owned 12,000 shares in the company, valued at approximately $3,395,640. This trade represents a 15.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Anderson purchased 2,600 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were acquired at an average cost of $281.86 per share, with a total value of $732,836.00. Following the completion of the purchase, the director directly owned 7,000 shares in the company, valued at $1,973,020. The trade was a 59.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.06% of the company’s stock.

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.