Gateway Investment Advisers LLC cut its holdings in Norfolk Southern Corp. (NYSE:NSC) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,941 shares of the railroad operator’s stock after selling 9,320 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Norfolk Southern were worth $9,990,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Norfolk Southern by 3.6% during the second quarter. BlackRock Inc. now owns 20,251,999 shares of the railroad operator’s stock worth $2,464,667,000 after buying an additional 700,567 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Norfolk Southern by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,097,333 shares of the railroad operator’s stock valued at $2,445,845,000 after purchasing an additional 631,018 shares during the last quarter. FMR LLC lifted its stake in shares of Norfolk Southern by 13.0% in the 2nd quarter. FMR LLC now owns 6,618,986 shares of the railroad operator’s stock valued at $805,530,000 after purchasing an additional 762,416 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Norfolk Southern by 17.1% during the 2nd quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock worth $772,007,000 after acquiring an additional 925,496 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Norfolk Southern by 3.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,571,441 shares of the railroad operator’s stock worth $678,044,000 after acquiring an additional 192,984 shares in the last quarter. Hedge funds and other institutional investors own 72.87% of the company’s stock.
Norfolk Southern Corp. (NYSE:NSC) traded up $1.33 during trading on Friday, reaching $138.22. The company’s stock had a trading volume of 2,376,997 shares, compared to its average volume of 2,000,247. The stock has a market capitalization of $39,254.07, a P/E ratio of 7.38, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. The company has a quick ratio of 0.76, a current ratio of 0.84 and a debt-to-equity ratio of 0.56. Norfolk Southern Corp. has a one year low of $109.27 and a one year high of $157.15.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 24th. The railroad operator reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.13. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.66 billion. Norfolk Southern had a return on equity of 14.16% and a net margin of 51.22%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. research analysts anticipate that Norfolk Southern Corp. will post 8.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 2nd will be issued a $0.72 dividend. The ex-dividend date is Thursday, February 1st. This represents a $2.88 dividend on an annualized basis and a yield of 2.08%. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s dividend payout ratio (DPR) is presently 15.38%.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 2,370 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $134.71, for a total transaction of $319,262.70. Following the transaction, the vice president now owns 6,370 shares in the company, valued at $858,102.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 6,175 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $129.61, for a total value of $800,341.75. Following the completion of the transaction, the vice president now owns 7,568 shares in the company, valued at approximately $980,888.48. The disclosure for this sale can be found here. Insiders sold 19,012 shares of company stock worth $2,690,734 in the last quarter. 0.36% of the stock is owned by insiders.
NSC has been the topic of several research reports. UBS Group increased their target price on Norfolk Southern from $133.00 to $154.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a report on Wednesday, November 1st. Argus upped their price target on Norfolk Southern from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. ValuEngine upgraded Norfolk Southern from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Scotiabank upgraded Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Friday, January 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. Norfolk Southern presently has an average rating of “Hold” and a consensus target price of $140.85.
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About Norfolk Southern
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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