Thrivent Financial for Lutherans Has $2.37 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Thrivent Financial for Lutherans reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,032 shares of the railroad operator’s stock after selling 123 shares during the period. Thrivent Financial for Lutherans’ holdings in Norfolk Southern were worth $2,369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc boosted its holdings in shares of Norfolk Southern by 9.2% during the 4th quarter. TD Asset Management Inc now owns 80,261 shares of the railroad operator’s stock valued at $18,972,000 after acquiring an additional 6,764 shares in the last quarter. KBC Group NV boosted its stake in shares of Norfolk Southern by 16.5% during the fourth quarter. KBC Group NV now owns 20,325 shares of the railroad operator’s stock valued at $4,805,000 after purchasing an additional 2,879 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Norfolk Southern by 3.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 198,626 shares of the railroad operator’s stock worth $46,951,000 after purchasing an additional 6,414 shares during the last quarter. NEOS Investment Management LLC increased its stake in shares of Norfolk Southern by 43.0% in the fourth quarter. NEOS Investment Management LLC now owns 3,210 shares of the railroad operator’s stock valued at $759,000 after buying an additional 966 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in Norfolk Southern by 4.3% in the 4th quarter. Rafferty Asset Management LLC now owns 22,763 shares of the railroad operator’s stock valued at $5,381,000 after buying an additional 944 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $248.50 on Tuesday. The business has a 50-day simple moving average of $245.36 and a 200 day simple moving average of $237.17. The firm has a market capitalization of $56.14 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66.

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

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NSC. TD Cowen boosted their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Sanford C. Bernstein decreased their price objective on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Wells Fargo & Company raised their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Evercore ISI upped their price target on Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus raised their price objective on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.17.

Insider Transactions at Norfolk Southern

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

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.