Capital Investment Advisors LLC lowered its stake in shares of Norfolk Southern Co. (NYSE: NSC – Get Rating) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,205 shares of the railroad operator’s stock after selling 255 shares during the quarter. Capital Investment Advisors LLC’s holdings in Norfolk Southern were worth $ 7,189,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in NSC. Arlington Partners LLC bought a new position in Norfolk Southern during the fourth quarter worth $ 27,000. Vectors Research Management LLC lifted its stake in Norfolk Southern by 468.8% during the fourth quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock worth $ 27,000 after purchasing an additional 75 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Norfolk Southern by 141.4% during the fourth quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock worth $ 42,000 after purchasing an additional 82 shares during the last quarter. HWG Holdings LP bought a new position in Norfolk Southern during the fourth quarter worth $ 43,000. Finally, Atticus Wealth Management LLC bought a new position in Norfolk Southern during the fourth quarter worth $ 45,000. 73.63% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. Susquehanna Bancshares cut their target price on Norfolk Southern from $ 356.00 to $ 350.00 in a research note on Thursday, April 7th. Barclays cut their target price on Norfolk Southern from $ 300.00 to $ 255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 14th. Citigroup cut Norfolk Southern from a “buy” rating to a “neutral” rating and cut their target price for the company from $ 345.00 to $ 260.00 in a research note on Thursday, May 19th. JPMorgan Chase & Co. cut their target price on 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, TD Securities raised their target price on Norfolk Southern from $ 300.00 to $ 305.00 and gave the company a “buy” rating in a research note on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $ 301.82.
In related news, CEO Alan H. Shaw sold 1,000 shares of Norfolk Southern stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $ 241.84, for a total transaction of $ 241,840.00. Following the transaction, the chief executive officer now directly owns 34,255 shares of the company stock, valued at $ 8,284,229.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.31% of the stock is owned by insiders.
NYSE: NSC opened at $ 221.69 on Friday. The business’s 50-day moving average price is $ 244.14 and its 200 day moving average price is $ 265.36. The firm has a market cap of $ 52.84 billion, a P / E ratio of 17.89, a PEG ratio of 1.54 and a beta of 1.37. Norfolk Southern Co. has a 52-week low of $ 219.31 and a 52-week high of $ 299.20. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 1.02.
Norfolk Southern (NYSE: NSC – Get Rating) last released its earnings results on Wednesday, April 27th. The railroad operator reported $ 2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 2.91 by $ 0.02. The firm had revenue of $ 2.92 billion for the quarter, compared to analyst estimates of $ 2.83 billion. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. Norfolk Southern’s revenue 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. Sell-side analysts expect that Norfolk Southern Co. will post 13.9 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Friday, May 6th were issued a dividend of $ 1.24 per share. This represents a $ 4.96 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Thursday, May 5th. Norfolk Southern’s payout ratio is currently 40.03%.
Norfolk Southern declared that its Board of Directors has authorized a share buyback program on Tuesday, March 29th that authorizes the company to repurchase $ 10.00 billion in outstanding shares. This repurchase authorization authorizes the railroad operator to buy up to 14.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company management believes its stock is undervalued.
About Norfolk Southern: (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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