JustInvest LLC grew its stake in shares of Norfolk Southern Co. (NYSE: NSC – Get Rating) by 102.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,702 shares of the railroad operator’s stock after buying an additional 3,899 shares during the period. JustInvest LLC’s holdings in Norfolk Southern were worth $ 2,293,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Arlington Partners LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $ 27,000. Vectors Research Management LLC raised its position in shares of Norfolk Southern by 468.8% during the 4th quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock valued at $ 27,000 after buying an additional 75 shares in the last quarter. First Community Trust NA purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at $ 30,000. Richwood Investment Advisors LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at $ 37,000. Finally, Benjamin Edwards Inc. grew its holdings in shares of Norfolk Southern by 141.4% during the 4th quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock valued at $ 42,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 73.63% of the company stock.
In other Norfolk Southern news, CEO Alan H. Shaw sold 1,000 shares of Norfolk Southern stock in a transaction dated 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 of the company stock, valued at $ 8,284,229.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by insiders.
NSC has been the topic of several recent research reports. Citigroup lowered shares of Norfolk Southern from a “buy” rating to a “neutral” rating and reduced their target price for the company from $ 345.00 to $ 260.00 in a report on Thursday, May 19th. Susquehanna cut their price target on shares of Norfolk Southern from $ 356.00 to $ 350.00 and set a “positive” rating on the stock in a report on Thursday, April 7th. TD Securities raised their price target on shares of Norfolk Southern from $ 300.00 to $ 305.00 and gave the stock a “buy” rating in a report on Thursday, April 28th. StockNews.com started coverage on shares of Norfolk Southern in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Susquehanna Bancshares cut their price target on shares of Norfolk Southern from $ 356.00 to $ 350.00 in a report on Thursday, April 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $ 301.82.
Shares of NYSE NSC opened at $ 222.79 on Friday. Norfolk Southern Co. has a 1 year low of $ 219.31 and a 1 year high of $ 299.20. The stock has a market cap of $ 53.10 billion, a P / E ratio of 17.98, a price-to-earnings-growth ratio of 1.54 and a beta of 1.37. The firm has a 50-day moving average of $ 247.82 and a 200 day moving average of $ 267.23. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.96 and a quick ratio of 0.87.
Norfolk Southern (NYSE: NSC – Get Rating) last issued its earnings results on Wednesday, April 27th. The railroad operator reported $ 2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 2.91 by $ 0.02. The business had revenue of $ 2.92 billion during the quarter, compared to analysts’ expectations of $ 2.83 billion. Norfolk Southern had a net margin of 26.58% and a return on equity of 21.95%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $ 2.66 earnings per share. Research analysts expect that Norfolk Southern Co. will post 13.9 earnings per share for the current fiscal year.
Norfolk Southern announced that its Board of Directors has approved a share repurchase program on Tuesday, March 29th that authorizes the company to repurchase $ 10.00 billion in shares. This repurchase authorization authorizes the railroad operator to repurchase up to 14.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Friday, May 6th were issued a $ 1.24 dividend. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $ 4.96 annualized dividend and a yield of 2.23%. Norfolk Southern’s dividend payout ratio (DPR) is presently 40.03%.
Norfolk Southern 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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