Arden Trust Co reduced its position in Norfolk Southern Co. (NYSE: NSC – Get Rating) by 10.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the railroad operator’s stock after selling 89 shares during the period. Arden Trust Co’s holdings in Norfolk Southern were worth $ 228,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of NSC. LPL Financial LLC boosted its position in Norfolk Southern by 8.5% in the 3rd quarter. LPL Financial LLC now owns 92,125 shares of the railroad operator’s stock valued at $ 22,041,000 after buying an additional 7,220 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Norfolk Southern by 690.3% during the third quarter. Wellington Management Group LLP now owns 68,288 shares of the railroad operator’s stock worth $ 16,338,000 after purchasing an additional 59,647 shares during the last quarter. United Capital Financial Advisers LLC lifted its position in shares of Norfolk Southern by 0.6% during the third quarter. United Capital Financial Advisers LLC now owns 12,395 shares of the railroad operator’s stock worth $ 2,965,000 after purchasing an additional 76 shares during the last quarter. Atria Investments LLC lifted its position in shares of Norfolk Southern by 4.2% during the third quarter. Atria Investments LLC now owns 22,104 shares of the railroad operator’s stock worth $ 5,288,000 after purchasing an additional 891 shares during the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Norfolk Southern by 66.4% during the third quarter. Cetera Advisors LLC now owns 7,090 shares of the railroad operator’s stock worth $ 1,696,000 after purchasing an additional 2,829 shares during the last quarter. 73.63% of the stock is owned by institutional investors.
NSC has been the topic of several research analyst reports. Susquehanna reduced their price target on shares of Norfolk Southern from $ 356.00 to $ 350.00 and set a “positive” rating on the stock in a research report on Thursday, April 7th. Citigroup cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $ 345.00 to $ 260.00 in a research report on Thursday, May 19th. TD Securities increased their price target on shares of Norfolk Southern from $ 300.00 to $ 305.00 and gave the stock a “buy” rating in a research report on Thursday, April 28th. JPMorgan Chase & Co. dropped their price objective on shares of Norfolk Southern from $ 318.00 to $ 308.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Finally, StockNews.com assumed coverage on shares of Norfolk Southern in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $ 301.82.
In other news, CEO Alan H. Shaw sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $ 241.84, for a total value of $ 241,840.00. Following the completion of the transaction, the chief executive officer now directly owns 34,255 shares in the company, valued at $ 8,284,229.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company stock.
Shares of NYSE: NSC opened at $ 224.20 on Wednesday. The firm’s 50 day moving average is $ 245.71 and its two-hundred day moving average is $ 266.11. Norfolk Southern Co. has a 52 week low of $ 219.31 and a 52 week high of $ 299.20. The firm has a market capitalization of $ 53.43 billion, a P / E ratio of 18.10, a PEG ratio of 1.52 and a beta of 1.37. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 1.02.
Norfolk Southern (NYSE: NSC – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The railroad operator reported $ 2.93 EPS for the quarter, beating the consensus estimate of $ 2.91 by $ 0.02. The company had revenue of $ 2.92 billion for the quarter, compared to analyst estimates of $ 2.83 billion. Norfolk Southern had a net margin of 26.58% and a return on equity of 21.95%. Norfolk Southern’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $ 2.66 earnings per share. Analysts predict that Norfolk Southern Co. will post 13.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Friday, May 6th were issued a $ 1.24 dividend. This represents a $ 4.96 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, May 5th. Norfolk Southern’s dividend payout ratio (DPR) is presently 40.03%.
Norfolk Southern announced that its Board of Directors has authorized a share buyback program on Tuesday, March 29th that allows the company to buyback $ 10.00 billion in shares. This buyback authorization allows the railroad operator to purchase up to 14.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company board believes its stock is undervalued.
Norfolk Southern Company Profile: (Get Rating)
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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.
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