M. Kraus & Co Sells 64 Shares of Norfolk Southern Corp. (NYSE:NSC)
M. Kraus & Co lowered its stake in Norfolk Southern Corp. (NYSE:NSC) by 0.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,526 shares of the railroad operator’s stock after selling 64 shares during the period. Norfolk Southern makes up 5.3% of M. Kraus & Co’s portfolio, making the stock its 4th largest holding. M. Kraus & Co’s holdings in Norfolk Southern were worth $9,473,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Norfolk Southern by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,210,893 shares of the railroad operator’s stock valued at $480,144,000 after buying an additional 17,877 shares during the period. Geode Capital Management LLC lifted its stake in Norfolk Southern by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 3,364,851 shares of the railroad operator’s stock worth $502,245,000 after purchasing an additional 221,780 shares during the period. Macquarie Group Ltd. lifted its stake in Norfolk Southern by 17.7% during the fourth quarter. Macquarie Group Ltd. now owns 30,653 shares of the railroad operator’s stock worth $4,583,000 after purchasing an additional 4,613 shares during the period. APG Asset Management N.V. lifted its stake in Norfolk Southern by 22.0% during the fourth quarter. APG Asset Management N.V. now owns 108,547 shares of the railroad operator’s stock worth $14,199,000 after purchasing an additional 19,600 shares during the period. Finally, Aspire Private Capital LLC bought a new position in Norfolk Southern during the fourth quarter worth about $75,000. Institutional investors and hedge funds own 72.56% of the company’s stock.
Shares of NYSE NSC traded up $2.43 during mid-day trading on Friday, hitting $189.99. 1,957,178 shares of the stock were exchanged, compared to its average volume of 1,882,173. The firm has a market cap of $50.04 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.51 and a beta of 1.32. The firm’s fifty day moving average price is $197.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 0.78. Norfolk Southern Corp. has a twelve month low of $138.65 and a twelve month high of $211.46.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.94 per share. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $3.76 annualized dividend and a dividend yield of 1.98%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.17%.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th. Argus raised their price target on shares of Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Loop Capital raised their price target on shares of Norfolk Southern to $237.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Morgan Stanley set a $36.00 price target on shares of ArcBest and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, Cascend Securities cut shares of Union Pacific from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $205.83.
In other news, Chairman James A. Squires sold 3,024 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Joseph Wheeler sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $204.57, for a total transaction of $511,425.00. Following the sale, the chief operating officer now directly owns 12,919 shares of the company’s stock, valued at approximately $2,642,839.83. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Norfolk Southern Profile
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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