Vident Investment Advisory LLC Takes Position in Norfolk Southern Corp. (NSC)

Vident Investment Advisory LLC bought a new position in Norfolk Southern Corp. (NYSE:NSC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,939 shares of the railroad operator’s stock, valued at approximately $571,000.

Several other institutional investors have also recently added to or reduced their stakes in NSC. BlackRock Inc. increased its stake in Norfolk Southern by 2.9% in the 4th quarter. BlackRock Inc. now owns 20,925,021 shares of the railroad operator’s stock worth $3,032,037,000 after buying an additional 584,131 shares during the period. Alliancebernstein L.P. increased its stake in Norfolk Southern by 4.5% in the 4th quarter. Alliancebernstein L.P. now owns 4,737,233 shares of the railroad operator’s stock worth $686,425,000 after buying an additional 205,394 shares during the period. Geode Capital Management LLC increased its stake in Norfolk Southern by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,819,766 shares of the railroad operator’s stock worth $407,666,000 after buying an additional 58,309 shares during the period. Deutsche Bank AG increased its stake in Norfolk Southern by 4.8% in the 4th quarter. Deutsche Bank AG now owns 1,726,899 shares of the railroad operator’s stock worth $250,220,000 after buying an additional 78,610 shares during the period. Finally, Legal & General Group Plc increased its stake in Norfolk Southern by 2.7% in the 3rd quarter. Legal & General Group Plc now owns 1,661,751 shares of the railroad operator’s stock worth $219,751,000 after buying an additional 43,131 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

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Norfolk Southern stock opened at $132.18 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The company has a market cap of $37,538.72, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.31 and a beta of 1.32. Norfolk Southern Corp. has a 12-month low of $109.27 and a 12-month high of $157.15.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 24th. The railroad operator reported $1.69 EPS for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. equities research analysts expect that Norfolk Southern Corp. will post 8.4 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 2nd were given a $0.72 dividend. The ex-dividend date was Thursday, February 1st. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s payout ratio is presently 15.38%.

In other news, Chairman James A. Squires sold 10,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $150.10, for a total value of $1,501,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas E. Hurlbut sold 467 shares of Norfolk Southern stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $150.17, for a total transaction of $70,129.39. Following the completion of the transaction, the vice president now directly owns 5,000 shares in the company, valued at approximately $750,850. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,166 shares of company stock worth $1,958,040. Insiders own 0.36% of the company’s stock.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Loop Capital reduced their price target on shares of Norfolk Southern from $139.00 to $135.00 and set a “sell” rating on the stock in a research note on Thursday, March 15th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $166.00 price target (down previously from $178.00) on shares of Norfolk Southern in a research note on Thursday, March 8th. Royal Bank of Canada reaffirmed a “sell” rating and issued a $137.00 price target on shares of Norfolk Southern in a research note on Tuesday, January 9th. Finally, ValuEngine downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $139.60.

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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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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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