Norfolk Southern Corp. (NSC) Shares Sold by Alerus Financial NA

Alerus Financial NA lowered its holdings in Norfolk Southern Corp. (NYSE:NSC) by 5.5% in the 1st quarter, HoldingsChannel reports. The fund owned 31,952 shares of the railroad operator’s stock after selling 1,865 shares during the quarter. Alerus Financial NA’s holdings in Norfolk Southern were worth $5,971,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Moors & Cabot Inc. boosted its stake in shares of Norfolk Southern by 6.3% in the first quarter. Moors & Cabot Inc. now owns 30,246 shares of the railroad operator’s stock valued at $5,653,000 after purchasing an additional 1,795 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Norfolk Southern by 9.7% in the first quarter. CIBC Asset Management Inc now owns 30,447 shares of the railroad operator’s stock valued at $5,690,000 after purchasing an additional 2,685 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in shares of Norfolk Southern by 327.5% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,710 shares of the railroad operator’s stock valued at $319,000 after purchasing an additional 1,310 shares during the period. Outlook Wealth Advisors LLC boosted its stake in shares of Norfolk Southern by 422.7% in the first quarter. Outlook Wealth Advisors LLC now owns 2,117 shares of the railroad operator’s stock valued at $396,000 after purchasing an additional 1,712 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Norfolk Southern by 16.7% in the first quarter. Toronto Dominion Bank now owns 190,386 shares of the railroad operator’s stock valued at $35,572,000 after purchasing an additional 27,237 shares during the period. 74.96% of the stock is owned by institutional investors.

NYSE NSC opened at $200.80 on Thursday. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 0.67. The firm has a market cap of $52.34 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.52 and a beta of 1.44.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 EPS for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.34. Norfolk Southern had a net margin of 24.10% and a return on equity of 17.80%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm posted $1.93 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect that Norfolk Southern Corp. will post 10.73 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 3rd will be given a $0.86 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.71%. Norfolk Southern’s payout ratio is currently 36.17%.

In other news, COO Michael Joseph Wheeler sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $204.57, for a total value of $511,425.00. Following the transaction, the chief operating officer now directly owns 12,919 shares in the company, valued at approximately $2,642,839.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Several brokerages have recently weighed in on NSC. Cowen restated an “outperform” rating and issued a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. TD Securities upped their target price on shares of Norfolk Southern from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Argus upped their target price on shares of Norfolk Southern from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Barclays upped their target price on shares of Norfolk Southern from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets upped their target price on shares of Norfolk Southern from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Norfolk Southern presently has an average rating of “Buy” and a consensus target price of $202.06.

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Norfolk Southern Company 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.

Further Reading: Google Finance

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

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