Norinchukin Bank The grew its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,878 shares of the railroad operator’s stock after buying an additional 1,429 shares during the quarter. Norinchukin Bank The’s holdings in Norfolk Southern were worth $3,315,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ARP Americas LP bought a new stake in shares of Norfolk Southern during the fourth quarter worth $319,000. Ontario Teachers Pension Plan Board grew its stake in shares of Norfolk Southern by 35.7% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 47,908 shares of the railroad operator’s stock worth $6,942,000 after buying an additional 12,613 shares during the last quarter. American International Group Inc. grew its stake in shares of Norfolk Southern by 3.0% during the fourth quarter. American International Group Inc. now owns 111,507 shares of the railroad operator’s stock worth $16,157,000 after buying an additional 3,292 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Norfolk Southern by 68.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 325,661 shares of the railroad operator’s stock worth $47,188,000 after purchasing an additional 131,814 shares during the period. Finally, Employees Retirement System of Texas lifted its holdings in shares of Norfolk Southern by 14.0% during the fourth quarter. Employees Retirement System of Texas now owns 138,300 shares of the railroad operator’s stock worth $20,040,000 after purchasing an additional 17,000 shares during the period. 73.77% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Thomas E. Hurlbut sold 467 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $150.17, for a total value of $70,129.39. Following the transaction, the vice president now owns 5,000 shares in the company, valued at $750,850. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas E. Hurlbut sold 2,370 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total transaction of $319,262.70. Following the transaction, the vice president now owns 6,370 shares in the company, valued at approximately $858,102.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,536 shares of company stock worth $2,277,302. 0.36% of the stock is owned by company insiders.
A number of equities analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sell” rating and set a $137.00 price target on shares of Norfolk Southern in a report on Tuesday, January 9th. Cowen reiterated an “outperform” rating and set a $165.00 price target (up previously from $143.00) on shares of Norfolk Southern in a report on Thursday, January 25th. Goldman Sachs Group assumed coverage on shares of Norfolk Southern in a report on Monday, November 13th. They set a “neutral” rating and a $126.00 price target on the stock. Loop Capital lifted their price target on shares of Norfolk Southern from $127.00 to $133.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, UBS Group lifted their price target on shares of Norfolk Southern from $133.00 to $154.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $140.85.
Norfolk Southern Corp. (NYSE NSC) opened at $140.03 on Wednesday. The stock has a market cap of $40,509.36, a price-to-earnings ratio of 7.48, a P/E/G ratio of 1.41 and a beta of 1.29. The company has a quick ratio of 0.76, a current ratio of 0.84 and a debt-to-equity ratio of 0.56. Norfolk Southern Corp. has a fifty-two week low of $109.27 and a fifty-two week high of $157.15.
Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.13. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.66 billion. Norfolk Southern had a net margin of 51.22% and a return on equity of 14.16%. Norfolk Southern’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. equities analysts expect that Norfolk Southern Corp. will post 8.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 2nd will be issued a $0.72 dividend. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, February 1st. This represents a $2.88 annualized dividend and a yield of 2.06%. Norfolk Southern’s payout ratio is presently 15.38%.
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Norfolk Southern Company Profile
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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