Norfolk Southern Corp. (NYSE:NSC) COO Michael Joseph Wheeler sold 1,699 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $143.62, for a total transaction of $244,010.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Norfolk Southern Corp. (NYSE:NSC) opened at $138.90 on Thursday. The firm has a market cap of $39,768.13, a PE ratio of 21.12, a PEG ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.84. Norfolk Southern Corp. has a 52 week low of $109.27 and a 52 week high of $157.15.
Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.13. The firm 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%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. sell-side analysts forecast that Norfolk Southern Corp. will post 8.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 2nd will be given a dividend of $0.72 per share. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.61. This represents a $2.88 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, February 1st. Norfolk Southern’s dividend payout ratio (DPR) is 15.38%.
A number of hedge funds and other institutional investors have recently modified their holdings of NSC. Americafirst Capital Management LLC purchased a new position in Norfolk Southern during the 2nd quarter valued at about $1,192,000. Krilogy Financial LLC lifted its position in Norfolk Southern by 2.6% during the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after acquiring an additional 22 shares during the period. National Asset Management Inc. lifted its position in Norfolk Southern by 16.2% during the 2nd quarter. National Asset Management Inc. now owns 2,479 shares of the railroad operator’s stock valued at $304,000 after acquiring an additional 346 shares during the period. Gofen & Glossberg LLC IL lifted its position in Norfolk Southern by 1.5% during the 2nd quarter. Gofen & Glossberg LLC IL now owns 7,239 shares of the railroad operator’s stock valued at $881,000 after acquiring an additional 109 shares during the period. Finally, North Star Asset Management Inc. lifted its position in Norfolk Southern by 3.1% during the 2nd quarter. North Star Asset Management Inc. now owns 3,325 shares of the railroad operator’s stock valued at $405,000 after acquiring an additional 100 shares during the period. 73.77% of the stock is owned by institutional investors.
A number of brokerages have issued reports on NSC. Cleveland Research reissued a “hold” rating on shares of Norfolk Southern in a report on Monday, January 15th. Scotiabank raised shares of Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Friday, January 12th. Loop Capital raised their price target on shares of Norfolk Southern to $144.00 and gave the stock a “sell” rating in a report on Friday, January 12th. Royal Bank of Canada reissued a “sell” rating and issued a $137.00 price target on shares of Norfolk Southern in a report on Tuesday, January 9th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $177.00 price target on shares of Norfolk Southern in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, twelve 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 an average target price of $140.85.
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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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