Alerus Financial NA Buys 1,993 Shares of Norfolk Southern Co. (NYSE:NSC)

Alerus Financial NA grew its stake in Norfolk Southern Co. (NYSE:NSC) by 10.0% during the second quarter, Holdings Channel reports. The firm owned 21,942 shares of the railroad operator’s stock after purchasing an additional 1,993 shares during the period. Alerus Financial NA’s holdings in Norfolk Southern were worth $5,824,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Wagner Wealth Management LLC bought a new stake in Norfolk Southern during the first quarter worth $36,000. Meridian Wealth Partners LLC lifted its holdings in Norfolk Southern by 66.0% during the first quarter. Meridian Wealth Partners LLC now owns 166 shares of the railroad operator’s stock worth $44,000 after acquiring an additional 66 shares during the period. Lumature Wealth Partners LLC bought a new stake in Norfolk Southern during the first quarter worth $54,000. Baldrige Asset Management LLC bought a new stake in Norfolk Southern during the second quarter worth $58,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Norfolk Southern by 392.2% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 251 shares of the railroad operator’s stock worth $66,000 after acquiring an additional 200 shares during the period. Institutional investors own 72.27% of the company’s stock.

Norfolk Southern stock traded down $2.23 during midday trading on Tuesday, hitting $239.33. 12,644 shares of the company’s stock were exchanged, compared to its average volume of 1,184,912. Norfolk Southern Co. has a 52-week low of $196.15 and a 52-week high of $295.14. The stock has a 50-day moving average price of $257.21 and a two-hundred day moving average price of $267.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.99 and a current ratio of 1.08. The company has a market cap of $59.11 billion, a P/E ratio of 22.37, a PEG ratio of 1.75 and a beta of 1.29.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 28th. The railroad operator reported $3.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.94 by $0.34. Norfolk Southern had a return on equity of 19.12% and a net margin of 25.98%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. As a group, sell-side analysts expect that Norfolk Southern Co. will post 11.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Monday, August 9th were given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 1.82%. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.99. The ex-dividend date was Friday, August 6th. Norfolk Southern’s payout ratio is presently 47.14%.

In other Norfolk Southern news, CMO Alan H. Shaw sold 5,148 shares of Norfolk Southern stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $256.93, for a total transaction of $1,322,675.64. Following the completion of the sale, the chief marketing officer now owns 31,399 shares of the company’s stock, valued at $8,067,345.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

A number of analysts recently commented on the company. Morgan Stanley lifted their price target on Norfolk Southern from $165.00 to $175.00 and gave the stock an “underweight” rating in a report on Monday, May 24th. Wells Fargo & Company raised their target price on Norfolk Southern from $315.00 to $318.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Atlantic Securities started coverage on Norfolk Southern in a research report on Monday, July 12th. They issued a “neutral” rating and a $276.00 target price for the company. Evercore ISI raised Norfolk Southern from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $301.00 to $303.00 in a research report on Friday, July 9th. Finally, Stifel Nicolaus started coverage on Norfolk Southern in a research report on Monday, June 21st. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $272.10.

Norfolk Southern Company Profile

Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.

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

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