Guggenheim Capital LLC Acquires 24,082 Shares of Norfolk Southern (NYSE:NSC)

Guggenheim Capital LLC grew its holdings in Norfolk Southern (NYSE:NSC) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 328,467 shares of the railroad operator’s stock after buying an additional 24,082 shares during the quarter. Guggenheim Capital LLC owned 0.12% of Norfolk Southern worth $47,597,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NSC. Sawyer & Company Inc acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $104,000. Arcadia Investment Management Corp MI raised its stake in shares of Norfolk Southern by 165.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock valued at $121,000 after buying an additional 520 shares in the last quarter. Welch Investments LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $156,000. Advantage Investment Management LLC raised its stake in shares of Norfolk Southern by 43.6% in the 3rd quarter. Advantage Investment Management LLC now owns 1,363 shares of the railroad operator’s stock valued at $180,000 after buying an additional 414 shares in the last quarter. Finally, Calton & Associates Inc. acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $191,000. Institutional investors own 72.48% of the company’s stock.

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A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sell” rating and set a $137.00 target price on shares of Norfolk Southern in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Wednesday. Cowen reiterated an “outperform” rating and set a $165.00 target price (up previously from $143.00) on shares of Norfolk Southern in a research report on Thursday, January 25th. Credit Suisse Group decreased their price objective on shares of Norfolk Southern from $166.00 to $164.00 and set an “outperform” rating on the stock in a report on Thursday, March 15th. Finally, JPMorgan Chase decreased their price objective on shares of Norfolk Southern from $154.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $139.60.

Shares of NYSE NSC traded down $4.34 during mid-day trading on Friday, hitting $129.36. The company’s stock had a trading volume of 2,298,519 shares, compared to its average volume of 1,909,193. The firm has a market capitalization of $36,737.85, a PE ratio of 19.57, a price-to-earnings-growth ratio of 1.28 and a beta of 1.31. 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 has a one year low of $111.07 and a one year high of $157.15.

Norfolk Southern (NYSE:NSC) last issued 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 company 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. equities research analysts anticipate that Norfolk Southern will post 8.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 2nd were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, February 1st. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s dividend payout ratio (DPR) is 43.57%.

In related news, Chairman James A. Squires sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $150.10, for a total value of $1,501,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas E. Hurlbut sold 1,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $142.90, for a total transaction of $142,900.00. The disclosure for this sale can be found here. Insiders sold a total of 13,166 shares of company stock worth $1,958,040 in the last ninety days. Insiders own 0.36% of the company’s stock.

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Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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