Fort Point Capital Partners LLC purchased a new stake in Norfolk Southern Corp. (NYSE:NSC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,585 shares of the railroad operator’s stock, valued at approximately $230,000.
Several other institutional investors have also recently modified their holdings of the company. Sawyer & Company Inc bought a new stake in Norfolk Southern during the fourth quarter worth about $104,000. Arcadia Investment Management Corp MI raised its holdings in Norfolk Southern by 165.1% during the fourth quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock worth $121,000 after acquiring an additional 520 shares in the last quarter. Welch Investments LLC bought a new stake in Norfolk Southern during the fourth quarter worth about $156,000. Avestar Capital LLC bought a new stake in Norfolk Southern during the fourth quarter worth about $171,000. Finally, Calton & Associates Inc. bought a new stake in Norfolk Southern during the fourth quarter worth about $191,000. Institutional investors own 72.47% of the company’s stock.
In other news, VP Thomas E. Hurlbut sold 467 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $150.17, for a total value of $70,129.39. Following the transaction, the vice president now owns 5,000 shares of the company’s stock, valued at $750,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James A. Squires sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $150.10, for a total value of $1,501,000.00. The disclosure for this sale can be found here. Insiders sold 13,166 shares of company stock worth $1,958,040 in the last ninety days. 0.36% of the stock is owned by company insiders.
Norfolk Southern Corp. (NYSE:NSC) opened at $139.17 on Tuesday. The firm has a market capitalization of $39,359.17, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. The company has a current ratio of 0.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. Norfolk Southern Corp. has a 12-month low of $109.27 and a 12-month high of $157.15.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13. The firm had revenue of $2.67 billion for 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 was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. equities analysts forecast that Norfolk Southern Corp. will post 8.43 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 2nd were given a $0.72 dividend. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, February 1st. This represents a $2.88 annualized dividend and a dividend yield of 2.07%. Norfolk Southern’s dividend payout ratio is presently 15.38%.
Several research firms recently issued reports on NSC. Cowen reiterated an “outperform” rating and set a $165.00 target price (up previously from $143.00) on shares of Norfolk Southern in a report on Thursday, January 25th. Loop Capital dropped their target price on Norfolk Southern from $139.00 to $135.00 and set a “sell” rating on the stock in a report on Thursday, March 15th. Credit Suisse Group reiterated an “outperform” rating and set a $166.00 target price (down previously from $178.00) on shares of Norfolk Southern in a report on Thursday, March 8th. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a report on Monday, January 29th. Finally, Morgan Stanley upped their target price on Norfolk Southern from $77.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $139.60.
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.
Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corp. (NYSE:NSC).
Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.