Crossmark Global Holdings Inc. Sells 459 Shares of Norfolk Southern Co. (NYSE:NSC)

Crossmark Global Holdings Inc. decreased its stake in Norfolk Southern Co. (NYSE:NSC) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,320 shares of the railroad operator’s stock after selling 459 shares during the period. Crossmark Global Holdings Inc.’s holdings in Norfolk Southern were worth $2,001,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Tennessee Treasury Department lifted its stake in Norfolk Southern by 209.3% in the 4th quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock valued at $26,454,000 after purchasing an additional 75,729 shares during the last quarter. Catalytic Wealth RIA LLC bought a new position in shares of Norfolk Southern during the fourth quarter valued at $608,000. Manning & Napier Advisors LLC bought a new position in shares of Norfolk Southern during the second quarter valued at $13,627,000. Buckingham Strategic Wealth LLC raised its stake in shares of Norfolk Southern by 7.0% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock valued at $22,783,000 after acquiring an additional 6,306 shares during the last quarter. Finally, Evermay Wealth Management LLC raised its stake in shares of Norfolk Southern by 1.5% during the fourth quarter. Evermay Wealth Management LLC now owns 4,667 shares of the railroad operator’s stock valued at $1,103,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 1.6 %

Shares of NYSE:NSC traded up $4.14 during midday trading on Friday, hitting $256.16. 1,439,272 shares of the company’s stock were exchanged, compared to its average volume of 1,269,998. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The stock has a 50 day moving average price of $231.86 and a 200-day moving average price of $238.20. The company has a market cap of $57.87 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping the consensus estimate of $2.86 by $0.20. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.95 earnings per share. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s payout ratio is presently 86.96%.

Analyst Ratings Changes

NSC has been the subject of several analyst reports. Benchmark raised their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada dropped their price target on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Sanford C. Bernstein dropped their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Susquehanna raised their price target on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $264.24.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy purchased 700 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares in the company, valued at $1,887,655. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sameh Fahmy purchased 700 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The disclosure for this purchase can be found here. Insiders acquired a total of 4,700 shares of company stock valued at $1,105,065 over the last three months. Corporate 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 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.