Signature Estate & Investment Advisors LLC Sells 500 Shares of Norfolk Southern Corp. (NYSE:NSC)

Signature Estate & Investment Advisors LLC cut its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,300 shares of the railroad operator’s stock after selling 500 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Norfolk Southern were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NSC. State Street Corp boosted its stake in Norfolk Southern by 6.3% in the fourth quarter. State Street Corp now owns 11,721,095 shares of the railroad operator’s stock valued at $2,275,416,000 after acquiring an additional 692,117 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Norfolk Southern by 582.7% in the fourth quarter. Artemis Investment Management LLP now owns 527,530 shares of the railroad operator’s stock valued at $102,328,000 after acquiring an additional 450,264 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Norfolk Southern by 5,312.9% in the third quarter. Fisher Asset Management LLC now owns 348,863 shares of the railroad operator’s stock valued at $62,677,000 after acquiring an additional 342,418 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Norfolk Southern by 7,767.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 310,053 shares of the railroad operator’s stock valued at $60,191,000 after acquiring an additional 306,112 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Norfolk Southern by 230.6% in the third quarter. First Trust Advisors LP now owns 322,665 shares of the railroad operator’s stock valued at $57,970,000 after acquiring an additional 225,069 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Shares of Norfolk Southern stock traded down $1.32 during trading on Friday, hitting $209.17. 35,198 shares of the company’s stock were exchanged, compared to its average volume of 1,659,075. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.80 and a current ratio of 0.90. The business has a 50-day simple moving average of $203.58 and a 200-day simple moving average of $188.51. Norfolk Southern Corp. has a 52-week low of $166.57 and a 52-week high of $219.88. The stock has a market capitalization of $54.37 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.92 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $2.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.27. Norfolk Southern had a net margin of 24.10% and a return on equity of 18.04%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the company posted $2.57 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Southern Corp. will post 11.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 7th will be issued a dividend of $0.94 per share. The ex-dividend date is Thursday, February 6th. This represents a $3.76 annualized dividend and a dividend yield of 1.80%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.36%.

In related news, EVP Ann A. Adams sold 1,336 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $208.16, for a total transaction of $278,101.76. Following the completion of the transaction, the executive vice president now owns 6,950 shares of the company’s stock, valued at $1,446,712. The sale was disclosed in a filing with the SEC, 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 stock was sold at an average price of $211.83, for a total transaction of $236,825.94. Following the transaction, 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. In the last three months, insiders have sold 14,724 shares of company stock valued at $3,125,979. 0.19% of the stock is currently owned by corporate insiders.

Several brokerages have weighed in on NSC. Barclays lowered their target price on shares of Norfolk Southern from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Bank of America downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $198.00 price objective for the company. in a research note on Wednesday, October 23rd. Credit Suisse Group lifted their price objective on shares of Norfolk Southern from $226.00 to $241.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Stephens lifted their price objective on shares of Norfolk Southern from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Susquehanna Bancshares lifted their price objective on shares of Norfolk Southern from to in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price of $215.05.

Norfolk Southern Profile

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

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