Norfolk Southern (NYSE:NSC) COO Michael Joseph Wheeler sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $151.33, for a total value of $302,660.00. Following the sale, the chief operating officer now directly owns 10,207 shares of the company’s stock, valued at $1,544,625.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Michael Joseph Wheeler also recently made the following trade(s):
- On Friday, February 16th, Michael Joseph Wheeler sold 1,699 shares of Norfolk Southern stock. The shares were sold at an average price of $143.62, for a total value of $244,010.38.
NYSE NSC opened at $152.49 on Friday. The company has a market cap of $43.08 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.94 and a current ratio of 1.04. Norfolk Southern has a 12-month low of $111.44 and a 12-month high of $157.15.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, April 25th. The railroad operator reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.16. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Norfolk Southern had a return on equity of 14.04% and a net margin of 51.65%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 EPS. equities research analysts forecast that Norfolk Southern will post 8.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 4th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, May 3rd. Norfolk Southern’s dividend payout ratio is currently 43.57%.
Several research firms have commented on NSC. Royal Bank of Canada raised Norfolk Southern from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, January 24th. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Monday, January 29th. Morgan Stanley upped their price objective on Norfolk Southern from $77.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, January 25th. Credit Suisse Group upped their price objective on Norfolk Southern from $177.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Cowen reaffirmed an “outperform” rating and set a $165.00 price objective (up from $143.00) on shares of Norfolk Southern in a research note on Thursday, January 25th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $144.90.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. grew its holdings in shares of Norfolk Southern by 56.4% in the 1st quarter. CIBC World Markets Inc. now owns 26,055 shares of the railroad operator’s stock worth $3,538,000 after acquiring an additional 9,401 shares during the period. Moors & Cabot Inc. grew its holdings in shares of Norfolk Southern by 1.2% in the 1st quarter. Moors & Cabot Inc. now owns 29,006 shares of the railroad operator’s stock worth $3,938,000 after acquiring an additional 357 shares during the period. Xact Kapitalforvaltning AB grew its holdings in shares of Norfolk Southern by 5.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 54,479 shares of the railroad operator’s stock worth $7,397,000 after acquiring an additional 2,587 shares during the period. Gables Capital Management Inc. acquired a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $384,000. Finally, Atlantic Trust Group LLC grew its holdings in shares of Norfolk Southern by 15.3% in the 1st quarter. Atlantic Trust Group LLC now owns 100,920 shares of the railroad operator’s stock worth $13,703,000 after acquiring an additional 13,418 shares during the period. Institutional investors and hedge funds own 72.96% of the company’s stock.
About Norfolk Southern
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.
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