Wellington Management Group LLP Cuts Position in Norfolk Southern Corporation $NSC

Wellington Management Group LLP trimmed its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 46.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,935 shares of the railroad operator’s stock after selling 14,016 shares during the period. Wellington Management Group LLP’s holdings in Norfolk Southern were worth $5,013,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter worth $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at $26,000. BNP Paribas purchased a new stake in Norfolk Southern during the 2nd quarter worth $26,000. Meeder Asset Management Inc. purchased a new stake in Norfolk Southern during the 2nd quarter worth $27,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Norfolk Southern in the 2nd quarter valued at $31,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BMO Capital Markets raised their price objective on Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Citigroup increased their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings raised Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Royal Bank Of Canada upped their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Finally, Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $348.00.

Norfolk Southern Stock Down 1.4%

Shares of NYSE NSC opened at $323.45 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The stock’s 50-day simple moving average is $336.04 and its 200-day simple moving average is $315.91. The firm has a market cap of $72.65 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 4.87 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business posted $3.29 earnings per share. Norfolk Southern’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 12.87 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio is 46.08%.

About Norfolk Southern

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.