CT Mason purchased a new stake in Norfolk Southern Corp. (NYSE:NSC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,780 shares of the railroad operator’s stock, valued at approximately $1,997,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sawyer & Company Inc acquired a new stake in Norfolk Southern in the fourth quarter valued at $104,000. Arcadia Investment Management Corp MI raised its holdings in Norfolk Southern by 165.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock valued at $121,000 after acquiring an additional 520 shares in the last quarter. Welch Investments LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at $156,000. Advantage Investment Management LLC raised its holdings in shares of Norfolk Southern by 43.6% during the third quarter. Advantage Investment Management LLC now owns 1,363 shares of the railroad operator’s stock worth $180,000 after purchasing an additional 414 shares during the period. Finally, Calton & Associates Inc. acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $191,000. 73.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on NSC. Royal Bank of Canada reissued a “sell” rating and set a $137.00 target price on shares of Norfolk Southern in a report on Tuesday, January 9th. Cowen reissued an “outperform” rating and set a $165.00 target price (up from $143.00) on shares of Norfolk Southern in a report on Thursday, January 25th. Goldman Sachs Group began coverage on shares of Norfolk Southern in a report on Monday, November 13th. They set a “neutral” rating and a $126.00 target price on the stock. Credit Suisse Group reissued a “buy” rating and set a $177.00 target price on shares of Norfolk Southern in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Norfolk Southern from $154.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $140.85.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 24th. The railroad operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.56 by $0.13. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.66 billion. Norfolk Southern had a net margin of 51.22% and a return on equity of 14.16%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 earnings per share. research analysts expect that Norfolk Southern Corp. will post 8.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 2nd will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, February 1st. This represents a $2.88 annualized dividend and a dividend yield of 2.02%. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s dividend payout ratio is currently 15.38%.
In related news, COO Michael Joseph Wheeler sold 1,699 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $143.62, for a total value of $244,010.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas E. Hurlbut sold 2,370 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total transaction of $319,262.70. Following the completion of the transaction, the vice president now owns 6,370 shares of the company’s stock, valued at approximately $858,102.70. The disclosure for this sale can be found here. Insiders have sold 15,536 shares of company stock valued at $2,277,302 in the last 90 days. Insiders own 0.36% of the company’s stock.
Norfolk Southern Profile
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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