Ladenburg Thalmann Financial Services Inc. Acquires 5,501 Shares of Norfolk Southern (NYSE:NSC)

Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Norfolk Southern (NYSE:NSC) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,273 shares of the railroad operator’s stock after buying an additional 5,501 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Norfolk Southern were worth $6,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSC. Patten Group Inc. boosted its holdings in shares of Norfolk Southern by 533.7% during the third 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 last quarter. McCollum Christoferson Group LLC acquired a new position in Norfolk Southern in the fourth quarter valued at $5,675,000. Stonebridge Capital Advisors LLC acquired a new position in Norfolk Southern in the third quarter valued at $296,000. Carroll Financial Associates Inc. boosted its holdings in Norfolk Southern by 29.2% in the fourth quarter. Carroll Financial Associates Inc. now owns 5,134 shares of the railroad operator’s stock valued at $743,000 after acquiring an additional 1,161 shares during the last quarter. Finally, Buckingham Asset Management LLC acquired a new position in Norfolk Southern in the third quarter valued at $277,000. 72.48% of the stock is owned by hedge funds and other institutional investors.

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Shares of NYSE NSC traded down $4.34 during midday trading on Friday, hitting $129.36. 2,298,519 shares of the company’s stock were exchanged, compared to its average volume of 1,909,193. The company has a current ratio of 0.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The company has a market cap of $36,737.85, a PE ratio of 19.57, a P/E/G ratio of 1.28 and a beta of 1.31. Norfolk Southern has a twelve month low of $111.07 and a twelve month 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 for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.66 billion. Norfolk Southern had a return on equity of 14.16% and a net margin of 51.22%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 earnings per share. sell-side analysts forecast that Norfolk Southern will post 8.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 2nd were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.23%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, February 1st. Norfolk Southern’s dividend payout ratio is 43.57%.

In other Norfolk Southern 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 transaction of $70,129.39. Following the sale, the vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $750,850. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas E. Hurlbut sold 1,000 shares of the business’s stock in a transaction 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 13,166 shares of company stock valued at $1,958,040 over the last 90 days. 0.36% of the stock is currently owned by insiders.

NSC has been the topic of a number of research analyst reports. ValuEngine upgraded Norfolk Southern from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BMO Capital Markets restated a “hold” rating and set a $156.00 price objective on shares of Norfolk Southern in a research note on Monday, January 8th. Royal Bank of Canada restated a “sell” rating and set a $137.00 price objective on shares of Norfolk Southern in a research note on Tuesday, January 9th. Loop Capital lifted their target price on Norfolk Southern to $144.00 and gave the stock a “sell” rating in a research report on Friday, January 12th. Finally, Scotiabank raised Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Friday, January 12th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $139.60.

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Norfolk Southern 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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