DE Burlo Group Inc. purchased a new stake in shares of Norfolk Southern Corp. (NYSE:NSC) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 700 shares of the railroad operator’s stock, valued at approximately $1,301,000.
Several other large investors have also recently bought and sold shares of NSC. Morgan Stanley raised its position in Norfolk Southern by 2.2% in the 3rd quarter. Morgan Stanley now owns 869,826 shares of the railroad operator’s stock valued at $157,003,000 after purchasing an additional 19,090 shares during the last quarter. Vanguard Group Inc raised its position in shares of Norfolk Southern by 1.6% during the third quarter. Vanguard Group Inc now owns 21,159,132 shares of the railroad operator’s stock worth $3,819,223,000 after acquiring an additional 336,725 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of Norfolk Southern by 67.2% during the third quarter. Federated Investors Inc. PA now owns 19,842 shares of the railroad operator’s stock worth $3,582,000 after acquiring an additional 7,977 shares during the last quarter. BKD Wealth Advisors LLC raised its position in shares of Norfolk Southern by 1.8% during the fourth quarter. BKD Wealth Advisors LLC now owns 4,427 shares of the railroad operator’s stock worth $662,000 after acquiring an additional 77 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Norfolk Southern during the fourth quarter worth $913,000. Hedge funds and other institutional investors own 72.86% of the company’s stock.
In other Norfolk Southern news, Chairman James A. Squires sold 3,024 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total value of $619,043.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Joseph Wheeler sold 2,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $204.57, for a total value of $511,425.00. Following the completion of the transaction, the chief operating officer now directly owns 12,919 shares of the company’s stock, valued at $2,642,839.83. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.34. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the firm earned $1.93 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Norfolk Southern Corp. will post 10.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.73%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.17%.
A number of equities research analysts have recently weighed in on the company. Cowen restated an “outperform” rating and set a $230.00 target price (up previously from $200.00) on shares of Norfolk Southern in a research report on Wednesday, April 24th. TD Securities boosted their target price on Norfolk Southern from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Argus boosted their target price on Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Barclays boosted their target price on Norfolk Southern from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets boosted their target price on Norfolk Southern from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $202.06.
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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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