First Allied Advisory Services Inc. reduced its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,899 shares of the railroad operator’s stock after selling 888 shares during the period. First Allied Advisory Services Inc.’s holdings in Norfolk Southern were worth $578,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NSC. Resources Management Corp CT ADV acquired a new position in Norfolk Southern in the third quarter valued at $733,000. Curbstone Financial Management Corp lifted its holdings in Norfolk Southern by 16.1% in the fourth quarter. Curbstone Financial Management Corp now owns 3,250 shares of the railroad operator’s stock valued at $490,000 after buying an additional 450 shares during the period. Sontag Advisory LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $80,000. Arlington Partners LLC acquired a new position in shares of Norfolk Southern during the fourth quarter valued at about $37,000. Finally, Fosun International Ltd acquired a new position in shares of Norfolk Southern during the fourth quarter valued at about $238,000. Institutional investors and hedge funds own 74.39% of the company’s stock.
Several brokerages have recently weighed in on NSC. Zacks Investment Research lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. ValuEngine upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Loop Capital upped their price objective on shares of Norfolk Southern to $210.00 and gave the company a “buy” rating in a report on Monday, February 11th. Credit Suisse Group upped their target price on shares of Norfolk Southern from $181.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, February 12th. Finally, Bank of America upgraded shares of Norfolk Southern from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $192.05.
NSC stock traded up $5.03 during trading on Wednesday, reaching $206.70. The stock had a trading volume of 2,444,406 shares, compared to its average volume of 1,691,320. Norfolk Southern Corp. has a one year low of $138.34 and a one year high of $211.46. The company has a market capitalization of $55.54 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.69 and a beta of 1.43. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.64 and a current ratio of 0.72.
Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.33. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm earned $1.93 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Norfolk Southern Corp. will post 10.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 36.17%.
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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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