Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Norfolk Southern Co. (NYSE: NSC – Get Rating) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,918 shares of the railroad operator’s stock after purchasing an additional 2,947 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Norfolk Southern were worth $ 19,624,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Norfolk Southern during the 4th quarter valued at about $ 134,586,000. Voloridge Investment Management LLC increased its position in Norfolk Southern by 690.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 392,752 shares of the railroad operator’s stock worth $ 93,966,000 after purchasing an additional 343,085 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Norfolk Southern by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 3,359,950 shares of the railroad operator’s stock valued at $ 803,869,000 after buying an additional 322,892 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Norfolk Southern by 4,789.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 328,000 shares of the railroad operator’s stock valued at $ 97,649,000 after buying an additional 321,292 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in shares of Norfolk Southern during the 3rd quarter worth about $ 72,348,000. 73.63% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Alan H. Shaw sold 1,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was 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 owns 34,255 shares of the company stock, valued at $ 8,284,229.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company stock.
NYSE: NSC opened at $ 223.07 on Tuesday. The stock has a market capitalization 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 Co. has a 1 year low of $ 221.72 and a 1 year high of $ 299.20. The stock has a fifty day moving average price of $ 249.97 and a two-hundred day moving average price of $ 268.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.87 and a current ratio of 0.96.
Norfolk Southern (NYSE: NSC – Get Rating) last announced its earnings results on Wednesday, April 27th. The railroad operator reported $ 2.93 EPS for the quarter, beating analysts’ consensus estimates of $ 2.91 by $ 0.02. The firm had revenue of $ 2.92 billion for the quarter, compared to analysts’ expectations of $ 2.83 billion. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. Norfolk Southern’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $ 2.66 EPS. On average, analysts predict that Norfolk Southern Co. will post 13.81 EPS for the current year.
Norfolk Southern declared that its board has initiated a stock repurchase plan 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 plans are usually a sign that the company board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Friday, May 6th were given a dividend of $ 1.24 per share. This represents a $ 4.96 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, May 5th. Norfolk Southern’s dividend payout ratio (DPR) is presently 40.03%.
A number of brokerages have issued reports on NSC. Susquehanna reduced their target price on Norfolk Southern from $ 356.00 to $ 350.00 and set a “positive” rating on the stock in a report on Thursday, April 7th. JPMorgan Chase & Co. decreased their target price on Norfolk Southern from $ 318.00 to $ 308.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Barclays decreased their target price on shares of Norfolk Southern from $ 300.00 to $ 255.00 in a research note on Tuesday. Citigroup downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and decreased their target price for the company from $ 345.00 to $ 260.00 in a research report on Thursday, May 19th. Finally, StockNews.com began coverage on shares of Norfolk Southern in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $ 301.82.
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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