Tyers Asset Management LLC Lowers Position in Norfolk Southern Corp. (NYSE:NSC)

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Tyers Asset Management LLC trimmed its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 45.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,424 shares of the railroad operator’s stock after selling 7,872 shares during the quarter. Tyers Asset Management LLC’s holdings in Norfolk Southern were worth $1,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rational Advisors LLC boosted its stake in shares of Norfolk Southern by 755.2% during the 2nd quarter. Rational Advisors LLC now owns 821 shares of the railroad operator’s stock worth $164,000 after acquiring an additional 725 shares in the last quarter. Hayden Royal LLC boosted its stake in shares of Norfolk Southern by 16.3% during the second quarter. Hayden Royal LLC now owns 1,297 shares of the railroad operator’s stock valued at $261,000 after acquiring an additional 182 shares during the last quarter. Coastal Investment Advisors Inc. boosted its stake in shares of Norfolk Southern by 139.6% during the second quarter. Coastal Investment Advisors Inc. now owns 841 shares of the railroad operator’s stock valued at $166,000 after acquiring an additional 490 shares during the last quarter. ARP Americas LP purchased a new stake in Norfolk Southern during the 1st quarter worth about $299,000. Finally, Family Firm Inc. purchased a new stake in Norfolk Southern during the 1st quarter worth about $218,000. 72.28% of the stock is owned by hedge funds and other institutional investors.

Shares of NSC traded down $2.40 during mid-day trading on Wednesday, hitting $176.18. The company had a trading volume of 56,089 shares, compared to its average volume of 1,365,859. Norfolk Southern Corp. has a 1-year low of $138.65 and a 1-year high of $211.46. The business’s 50-day simple moving average is $178.07 and its 200-day simple moving average is $190.20. The stock has a market cap of $46.71 billion, a PE ratio of 18.55, a P/E/G ratio of 1.48 and a beta of 1.34. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.72.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 EPS for the quarter, missing the consensus estimate of $2.77 by ($0.07). The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.95 billion. Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the company posted $2.50 EPS. On average, sell-side analysts expect that Norfolk Southern Corp. will post 10.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 5th were paid a dividend of $0.94 per share. The ex-dividend date was Friday, August 2nd. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 2.13%. Norfolk Southern’s payout ratio is currently 39.54%.

In other news, Director Jennifer F. Scanlon acquired 525 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the acquisition, the director now directly owns 525 shares in the company, valued at approximately $100,548. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

A number of research firms have issued reports on NSC. Morgan Stanley set a $130.00 target price on shares of Norfolk Southern and gave the company a “sell” rating in a report on Monday, July 8th. TD Securities lowered their price target on shares of Norfolk Southern from $225.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Cascend Securities lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Goldman Sachs Group started coverage on shares of Norfolk Southern in a research report on Wednesday, July 10th. They issued a “buy” rating and a $237.00 price objective for the company. Finally, ValuEngine downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Norfolk Southern currently has a consensus rating of “Hold” and a consensus price target of $206.39.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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