Investec Asset Management LTD raised its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,634,634 shares of the railroad operator’s stock after purchasing an additional 19,557 shares during the period. Investec Asset Management LTD’s holdings in Norfolk Southern were worth $236,858,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Sawyer & Company Inc bought a new stake in Norfolk Southern during the fourth quarter valued at approximately $104,000. Arcadia Investment Management Corp MI lifted its holdings in shares of Norfolk Southern by 165.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock worth $121,000 after acquiring an additional 520 shares during the last quarter. Welch Investments LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $156,000. Calton & Associates Inc. bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $191,000. Finally, Advantage Investment Management LLC lifted its holdings in shares of Norfolk Southern by 43.6% in the 3rd quarter. Advantage Investment Management LLC now owns 1,363 shares of the railroad operator’s stock worth $180,000 after acquiring an additional 414 shares during the last quarter. Institutional investors and hedge funds own 73.77% of the company’s stock.
A number of equities research analysts have recently weighed in on NSC shares. Scotiabank upgraded shares of Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Friday, January 12th. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $154.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Loop Capital lowered shares of Norfolk Southern from a “hold” rating to a “sell” rating and set a $133.00 price objective for the company. in a report on Monday, November 27th. BMO Capital Markets restated a “hold” rating and issued a $156.00 price objective on shares of Norfolk Southern in a report on Monday, January 8th. Finally, ValuEngine upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Norfolk Southern presently has an average rating of “Hold” and an average price target of $140.75.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.13. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 EPS. equities research analysts predict that Norfolk Southern Corp. will post 8.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 2nd will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.61. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.07%. Norfolk Southern’s dividend payout ratio is currently 15.38%.
In other news, Chairman James A. Squires sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $150.10, for a total value of $1,501,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas E. Hurlbut sold 1,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $142.90, for a total transaction of $142,900.00. The disclosure for this sale can be found here. Insiders sold a total of 13,166 shares of company stock worth $1,958,040 over the last ninety days. Insiders own 0.36% of the company’s stock.
Norfolk Southern Company 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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