Commonwealth Retirement Investments LLC Has $420,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Commonwealth Retirement Investments LLC lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 68.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,958 shares of the railroad operator’s stock after selling 4,165 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Norfolk Southern were worth $420,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raleigh Capital Management Inc. grew its position in shares of Norfolk Southern by 4.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock valued at $226,000 after acquiring an additional 40 shares during the period. Hall Capital Management Co. Inc. increased its position in Norfolk Southern by 2.8% during the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after buying an additional 42 shares during the last quarter. Blue Chip Partners LLC raised its stake in Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after buying an additional 42 shares during the period. Stephens Consulting LLC lifted its position in shares of Norfolk Southern by 12.4% in the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Norfolk Southern by 2.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock worth $397,000 after acquiring an additional 43 shares during the period. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 1.1 %

Shares of Norfolk Southern stock opened at $250.01 on Friday. The firm’s 50 day moving average is $236.56 and its 200 day moving average is $238.30. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $56.48 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 2.50 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the firm earned $2.95 EPS. Norfolk Southern’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.16%. Norfolk Southern’s payout ratio is 86.96%.

Analyst Ratings Changes

NSC has been the subject of several research reports. Wells Fargo & Company raised their price target on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays reduced their price objective on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Stifel Nicolaus lifted their price target on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a 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 report on Monday, July 29th. Finally, Sanford C. Bernstein dropped their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $264.24.

Insider Buying and Selling

In other news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 4,700 shares of company stock valued at $1,105,065. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.