Deutsche Bank AG lessened its holdings in shares of Norfolk Southern Co. (NYSE: NSC – Get Rating) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,088,078 shares of the railroad operator’s stock after selling 113,700 shares during the quarter. Deutsche Bank AG’s holdings in Norfolk Southern were worth $ 323,932,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Partners LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at about $ 27,000. Vectors Research Management LLC grew its position in Norfolk Southern by 468.8% in the fourth quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock worth $ 27,000 after buying an additional 75 shares during the last quarter. Benjamin Edwards Inc. grew its position in Norfolk Southern by 141.4% in the fourth quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock worth $ 42,000 after buying an additional 82 shares during the last quarter. Atticus Wealth Management LLC acquired a new position in Norfolk Southern in the fourth quarter worth approximately $ 45,000. Finally, Amplius Wealth Advisors LLC purchased a new position in Norfolk Southern during the 4th quarter worth approximately $ 49,000. 73.63% of the stock is currently owned by institutional investors and hedge funds.
Norfolk Southern stock opened at $ 222.81 on Wednesday. The business has a 50-day simple moving average of $ 249.18 and a two-hundred day simple moving average of $ 267.85. The company has a market cap of $ 53.10 billion, a P / E ratio of 17.98, a P / E / G ratio of 1.58 and a beta of 1.37. Norfolk Southern Co. has a 52-week low of $ 221.44 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 announced its quarterly earnings data on Wednesday, April 27th. The railroad operator reported $ 2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 2.91 by $ 0.02. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. 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 company posted $ 2.66 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that Norfolk Southern Co. will post 13.81 EPS for the current fiscal year.
Norfolk Southern announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 29th that authorizes the company to buyback $ 10.00 billion in shares. This buyback authorization authorizes the railroad operator to repurchase up to 14.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Friday, May 6th were issued a dividend of $ 1.24 per share. The ex-dividend date was Thursday, May 5th. This represents a $ 4.96 annualized dividend and a dividend yield of 2.23%. Norfolk Southern’s dividend payout ratio (DPR) is 40.03%.
In related news, CEO Alan H. Shaw sold 1,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $ 241.84, for a total transaction of $ 241,840.00. Following the sale, the chief executive officer now owns 34,255 shares in the company, valued at approximately $ 8,284,229.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company stock.
Several equities analysts have recently commented on NSC shares. Citigroup cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and lowered their price target for the company from $ 345.00 to $ 260.00 in a report on Thursday, May 19th. JPMorgan Chase & Co. lowered their target price 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. Susquehanna Bancshares decreased their price objective on shares of Norfolk Southern from $ 356.00 to $ 350.00 in a research note on Thursday, April 7th. Susquehanna cut their price objective 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. Finally, StockNews.com began coverage on shares of Norfolk Southern in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company stock. According to MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $ 301.82.
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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