Pendal Group Ltd raised its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 24.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,034 shares of the railroad operator’s stock after acquiring an additional 6,579 shares during the quarter. Pendal Group Ltd’s holdings in Norfolk Southern were worth $6,413,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its stake in shares of Norfolk Southern by 6.3% during the 4th quarter. State Street Corp now owns 11,721,095 shares of the railroad operator’s stock worth $2,275,416,000 after acquiring an additional 692,117 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Norfolk Southern by 0.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,037,827 shares of the railroad operator’s stock worth $201,473,000 after acquiring an additional 5,984 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Norfolk Southern by 3.1% during the 4th quarter. California Public Employees Retirement System now owns 626,935 shares of the railroad operator’s stock worth $121,707,000 after acquiring an additional 18,711 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Norfolk Southern by 582.7% during the 4th quarter. Artemis Investment Management LLP now owns 527,530 shares of the railroad operator’s stock worth $102,328,000 after acquiring an additional 450,264 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Norfolk Southern by 1.0% during the 4th quarter. Rhumbline Advisers now owns 494,769 shares of the railroad operator’s stock worth $96,050,000 after acquiring an additional 5,028 shares in the last quarter. 71.90% of the stock is owned by institutional investors.
In other Norfolk Southern news, COO Michael Joseph Wheeler sold 11,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $212.84, for a total transaction of $2,341,240.00. Following the completion of the sale, the chief operating officer now owns 27,035 shares of the company’s stock, valued at approximately $5,754,129.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann A. Adams sold 1,118 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $211.83, for a total value of $236,825.94. Following the sale, the executive vice president now directly owns 8,809 shares of the company’s stock, valued at approximately $1,866,010.47. The disclosure for this sale can be found here. Insiders have sold a total of 14,724 shares of company stock valued at $3,125,979 in the last ninety days. Insiders own 0.19% of the company’s stock.
Several equities analysts have recently weighed in on NSC shares. Robert W. Baird raised their price target on shares of Norfolk Southern from $197.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Cowen reissued a “buy” rating and issued a $215.00 price objective on shares of Norfolk Southern in a report on Wednesday, October 23rd. Bank of America downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and set a $198.00 price objective for the company. in a report on Wednesday, October 23rd. Susquehanna Bancshares increased their price objective on Norfolk Southern from to in a report on Thursday, January 30th. Finally, Wells Fargo & Co increased their price objective on Norfolk Southern from $230.00 to $237.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $215.05.
Shares of NYSE NSC traded down $1.32 during trading hours on Friday, hitting $209.17. The company had a trading volume of 35,198 shares, compared to its average volume of 1,659,075. The stock has a market capitalization of $54.37 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 0.78. Norfolk Southern Corp. has a 1-year low of $166.57 and a 1-year high of $219.88. The firm’s 50 day moving average is $203.58 and its 200-day moving average is $188.51.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. Norfolk Southern had a return on equity of 18.04% and a net margin of 24.10%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the firm posted $2.57 EPS. The company’s quarterly revenue was down 7.1% on a year-over-year basis. On average, sell-side analysts predict that Norfolk Southern Corp. will post 11.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, February 6th. Norfolk Southern’s dividend payout ratio is 36.36%.
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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