Northeast Financial Consultants Inc bought a new stake in Norfolk Southern Corp. (NYSE:NSC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,455 shares of the railroad operator’s stock, valued at approximately $272,000.
Several other institutional investors and hedge funds have also made changes to their positions in NSC. Oregon Public Employees Retirement Fund raised its position in shares of Norfolk Southern by 14,153.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock valued at $152,000 after purchasing an additional 22,615,008 shares in the last quarter. Norges Bank acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at approximately $400,313,000. Lazard Asset Management LLC raised its position in shares of Norfolk Southern by 27.7% during the 1st quarter. Lazard Asset Management LLC now owns 7,333,967 shares of the railroad operator’s stock valued at $1,370,644,000 after acquiring an additional 1,592,303 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Norfolk Southern by 87.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,196,717 shares of the railroad operator’s stock worth $178,960,000 after purchasing an additional 558,407 shares in the last quarter. Finally, Ronna Sue Cohen grew its stake in shares of Norfolk Southern by 18,679.2% in the first quarter. Ronna Sue Cohen now owns 491,076 shares of the railroad operator’s stock worth $491,000 after purchasing an additional 488,461 shares in the last quarter. 72.84% of the stock is currently owned by institutional investors.
In other Norfolk Southern news, Chairman James A. Squires sold 3,024 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total transaction of $619,043.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael Joseph Wheeler sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $204.57, for a total value of $511,425.00. Following the transaction, the chief operating officer now directly owns 12,919 shares in the company, valued at approximately $2,642,839.83. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.
Shares of Norfolk Southern stock traded down $1.58 during midday trading on Friday, hitting $194.93. 6,109 shares of the company were exchanged, compared to its average volume of 1,233,199. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.67 and a quick ratio of 0.59. Norfolk Southern Corp. has a 52 week low of $138.65 and a 52 week high of $211.46. The company has a market capitalization of $52.99 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.52 and a beta of 1.38.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.34. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 EPS. Equities analysts anticipate that Norfolk Southern Corp. will post 10.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 3rd were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.76%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.17%.
Several brokerages recently weighed in on NSC. Zacks Investment Research cut Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. ValuEngine raised Norfolk Southern from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Deutsche Bank decreased their target price on Norfolk Southern from $198.00 to $196.00 and set a “hold” rating for the company in a research note on Wednesday. Barclays upped their target price on Norfolk Southern from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Finally, Bank of America raised Norfolk Southern from a “neutral” rating to a “buy” rating and set a $205.00 target price for the company in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $203.11.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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