HWG Holdings LP lifted its position in Norfolk Southern Corp. (NYSE:NSC) by 2,646.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,943 shares of the railroad operator’s stock after buying an additional 4,763 shares during the period. HWG Holdings LP’s holdings in Norfolk Southern were worth $716,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Sawyer & Company Inc purchased a new position in shares of Norfolk Southern in the 4th quarter worth approximately $104,000. Krilogy Financial LLC grew its position in shares of Norfolk Southern by 2.6% in the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after buying an additional 22 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of Norfolk Southern by 20.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after buying an additional 150 shares during the last quarter. Harfst & Associates Inc. grew its position in shares of Norfolk Southern by 58.8% in the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after buying an additional 350 shares during the last quarter. Finally, QCI Asset Management Inc. NY grew its position in shares of Norfolk Southern by 0.5% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after buying an additional 5 shares during the last quarter. 72.45% of the stock is currently owned by hedge funds and other institutional investors.
Norfolk Southern Corp. (NYSE:NSC) traded down $1.34 during trading hours on Wednesday, reaching $153.00. 2,492,700 shares of the company’s stock traded hands, compared to its average volume of 1,526,820. The stock has a market cap of $44,080.00, a P/E ratio of 24.32, a PEG ratio of 1.71 and a beta of 1.37. Norfolk Southern Corp. has a 12 month low of $105.89 and a 12 month high of $157.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.73 and a current ratio of 0.83.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. Norfolk Southern had a net margin of 17.86% and a return on equity of 14.72%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the business posted $1.55 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. research analysts anticipate that Norfolk Southern Corp. will post 6.48 earnings per share for the current fiscal year.
Norfolk Southern announced that its Board of Directors has approved a stock repurchase plan on Tuesday, September 26th that allows the company to buyback 50,000,000 shares. This buyback authorization allows the railroad operator to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 2,370 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total transaction of $319,262.70. Following the completion of the sale, the vice president now directly owns 6,370 shares in the company, valued at approximately $858,102.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas E. Hurlbut sold 6,175 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $129.61, for a total transaction of $800,341.75. Following the sale, the vice president now owns 7,568 shares of the company’s stock, valued at $980,888.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,113 shares of company stock valued at $1,594,148. Company insiders own 0.36% of the company’s stock.
A number of research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Royal Bank of Canada reaffirmed a “sell” rating and issued a $137.00 price objective on shares of Norfolk Southern in a research report on Tuesday, January 9th. Credit Suisse Group reaffirmed a “buy” rating and issued a $177.00 price objective on shares of Norfolk Southern in a research report on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and issued a $127.00 price objective on shares of Norfolk Southern in a research report on Friday, October 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $121.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Norfolk Southern has a consensus rating of “Hold” and an average price target of $134.52.
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About Norfolk Southern
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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