Eaton Vance Management boosted its holdings in Norfolk Southern Corp. (NYSE:NSC) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,392 shares of the railroad operator’s stock after purchasing an additional 11,921 shares during the quarter. Eaton Vance Management owned approximately 0.13% of Norfolk Southern worth $52,945,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Patten Group Inc. boosted its stake in Norfolk Southern by 533.7% in the 3rd quarter. Patten Group Inc. now owns 55,343 shares of the railroad operator’s stock worth $1,135,000 after purchasing an additional 46,610 shares during the period. McCollum Christoferson Group LLC bought a new position in Norfolk Southern in the 4th quarter worth approximately $5,675,000. Stonebridge Capital Advisors LLC bought a new position in Norfolk Southern in the 3rd quarter worth approximately $296,000. Carroll Financial Associates Inc. boosted its stake in Norfolk Southern by 29.2% in the 4th quarter. Carroll Financial Associates Inc. now owns 5,134 shares of the railroad operator’s stock worth $743,000 after purchasing an additional 1,161 shares during the period. Finally, Buckingham Asset Management LLC bought a new position in Norfolk Southern in the 3rd quarter worth approximately $277,000. Institutional investors and hedge funds own 73.77% of the company’s stock.
Shares of Norfolk Southern Corp. (NYSE:NSC) opened at $142.62 on Friday. Norfolk Southern Corp. has a twelve month low of $109.27 and a twelve month high of $157.15. The firm has a market capitalization of $40,179.92, a price-to-earnings ratio of 7.61, a P/E/G ratio of 1.40 and a beta of 1.29. The company has a current ratio of 0.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.13. Norfolk Southern had a return on equity of 14.16% and a net margin of 51.22%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. Norfolk Southern’s quarterly revenue was up 7.2% compared to the same quarter last year. equities analysts forecast that Norfolk Southern Corp. will post 8.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 2nd will be paid 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 dividend on an annualized basis and a yield of 2.02%. Norfolk Southern’s dividend payout ratio (DPR) is presently 15.38%.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 1,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $142.90, for a total value of $142,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas E. Hurlbut sold 2,370 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $134.71, for a total value of $319,262.70. Following the completion of the sale, 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 quarter, insiders sold 15,536 shares of company stock worth $2,277,302. Insiders own 0.36% of the company’s stock.
A number of research firms have recently commented on NSC. ValuEngine upgraded Norfolk Southern from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a research report on Wednesday, November 1st. Argus increased their target price on Norfolk Southern from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Scotiabank upgraded Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 target price for the company in a research report on Friday, January 12th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $177.00 target price on shares of Norfolk Southern in a research report on Wednesday, January 17th. Three investment 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 company currently has an average rating of “Hold” and a consensus target price of $140.85.
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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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