Earnest Partners LLC cut its position in Norfolk Southern Corp. (NYSE:NSC) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 162,606 shares of the railroad operator’s stock after selling 7,747 shares during the quarter. Earnest Partners LLC’s holdings in Norfolk Southern were worth $23,562,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of NSC. Raymond James Financial Services Advisors Inc. raised its holdings in Norfolk Southern by 11.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 92,534 shares of the railroad operator’s stock worth $12,237,000 after buying an additional 9,721 shares during the last quarter. Global X MANAGEMENT CO LLC raised its holdings in Norfolk Southern by 14.9% in the third quarter. Global X MANAGEMENT CO LLC now owns 8,304 shares of the railroad operator’s stock worth $1,098,000 after buying an additional 1,074 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Norfolk Southern by 3.2% in the third quarter. CIBC Asset Management Inc now owns 28,846 shares of the railroad operator’s stock worth $3,815,000 after buying an additional 895 shares during the last quarter. Toronto Dominion Bank raised its holdings in Norfolk Southern by 11.4% in the third quarter. Toronto Dominion Bank now owns 109,624 shares of the railroad operator’s stock worth $14,495,000 after buying an additional 11,206 shares during the last quarter. Finally, Advisor Group Inc. raised its holdings in Norfolk Southern by 8.0% in the third quarter. Advisor Group Inc. now owns 19,699 shares of the railroad operator’s stock worth $2,606,000 after buying an additional 1,466 shares during the last quarter. 72.50% of the stock is owned by institutional investors and hedge funds.
In other Norfolk Southern news, Chairman James A. Squires sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $150.10, for a total transaction of $1,501,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas E. Hurlbut sold 467 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $150.17, for a total transaction of $70,129.39. Following the sale, the vice president now directly owns 5,000 shares of the company’s stock, valued at $750,850. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,166 shares of company stock valued at $1,958,040. 0.36% of the stock is owned by corporate insiders.
Shares of Norfolk Southern Corp. (NSC) opened at $142.38 on Wednesday. Norfolk Southern Corp. has a twelve month low of $109.27 and a twelve month high of $157.15. The company has a market cap of $40,486.64, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.32. The company has a current ratio of 0.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56.
Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 24th. The railroad operator reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.13. Norfolk Southern had a net margin of 51.22% and a return on equity of 14.16%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. equities research analysts predict that Norfolk Southern Corp. will post 8.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 2nd were issued a dividend of $0.72 per share. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.61. This represents a $2.88 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, February 1st. Norfolk Southern’s dividend payout ratio is currently 15.38%.
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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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