Crestwood Advisors Group LLC grew its stake in Norfolk Southern Co. (NYSE: NSC – Get Rating) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,449 shares of the railroad operator’s stock after acquiring an additional 425 shares during the period. Crestwood Advisors Group LLC’s holdings in Norfolk Southern were worth $ 1,325,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in NSC. Penserra Capital Management LLC grew its holdings in shares of Norfolk Southern by 11.0% in the 3rd quarter. Penserra Capital Management LLC now owns 910 shares of the railroad operator’s stock valued at $ 217,000 after acquiring an additional 90 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Norfolk Southern by 16.0% in the 3rd quarter. Invesco Ltd. now owns 656,642 shares of the railroad operator’s stock valued at $ 157,103,000 after acquiring an additional 90,521 shares in the last quarter. Zacks Investment Management grew its holdings in Norfolk Southern by 13.7% during the third quarter. Zacks Investment Management now owns 1,254 shares of the railroad operator’s stock worth $ 300,000 after purchasing an additional 151 shares during the period. Morgan Stanley grew its holdings in Norfolk Southern by 0.8% during the third quarter. Morgan Stanley now owns 1,119,514 shares of the railroad operator’s stock worth $ 267,843,000 after purchasing an additional 8,629 shares during the period. Finally, Putnam Investments LLC grew its holdings in Norfolk Southern by 7.3% during the third quarter. Putnam Investments LLC now owns 18,703 shares of the railroad operator’s stock worth $ 4,475,000 after purchasing an additional 1,273 shares during the period. Institutional investors own 73.63% of the company stock.
NSC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on Norfolk Southern from $ 318.00 to $ 308.00 and set an “overweight” rating for the company in a report on Friday, April 8th. StockNews.com initiated coverage on Norfolk Southern in a report on Thursday, March 31st. They set a “hold” rating for the company. TD Securities lifted their price target on Norfolk Southern from $ 300.00 to $ 305.00 and gave the stock a “buy” rating in a report on Thursday, April 28th. Citigroup cut 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 report on Thursday, May 19th. Finally, Susquehanna reduced their price target on Norfolk Southern from $ 356.00 to $ 350.00 and set a “positive” rating for the company in a report on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company stock. Based on data from MarketBeat, Norfolk Southern has an average rating of “Hold” and an average target price of $ 304.75.
NYSE NSC opened at $ 223.07 on Tuesday. 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 Co. has a 1-year low of $ 221.72 and a 1-year high of $ 299.20. The company has a 50 day moving average of $ 249.97 and a 200-day moving average of $ 268.17. The company has a market cap of $ 53.16 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.58 and a beta of 1.37.
Norfolk Southern (NYSE: NSC – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The railroad operator reported $ 2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $ 2.91 by $ 0.02. Norfolk Southern had a net margin of 26.58% and a return on equity of 21.95%. The company had revenue of $ 2.92 billion during the quarter, compared to the estimate consensus of $ 2.83 billion. During the same period in the previous year, the business earned $ 2.66 earnings per share. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that Norfolk Southern Co. will post 13.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Friday, May 6th were given a $ 1.24 dividend. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $ 4.96 dividend on an annualized basis and a dividend yield of 2.22%. Norfolk Southern’s payout ratio is 40.03%.
Norfolk Southern declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 29th that permits the company to repurchase $ 10.00 billion in outstanding shares. This repurchase authorization permits the railroad operator to repurchase up to 14.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company board of directors believes its stock is undervalued.
In other news, CEO Alan H. Shaw sold 1,000 shares of Norfolk Southern 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 sale, 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 document filed with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by insiders.
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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