Curbstone Financial Management Corp increased its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 16.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,250 shares of the railroad operator’s stock after acquiring an additional 450 shares during the quarter. Curbstone Financial Management Corp’s holdings in Norfolk Southern were worth $490,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of NSC. Rehmann Capital Advisory Group increased its holdings in Norfolk Southern by 3.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,627 shares of the railroad operator’s stock worth $474,000 after purchasing an additional 83 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in Norfolk Southern by 3.2% during the 3rd quarter. Belpointe Asset Management LLC now owns 5,667 shares of the railroad operator’s stock worth $1,023,000 after purchasing an additional 176 shares in the last quarter. Moody National Bank Trust Division bought a new position in Norfolk Southern during the 4th quarter worth about $31,000. United Bank increased its holdings in Norfolk Southern by 3.1% during the 2nd quarter. United Bank now owns 9,940 shares of the railroad operator’s stock worth $1,500,000 after purchasing an additional 295 shares in the last quarter. Finally, Oakworth Capital Inc. increased its holdings in Norfolk Southern by 15.2% during the 3rd quarter. Oakworth Capital Inc. now owns 2,497 shares of the railroad operator’s stock worth $451,000 after purchasing an additional 330 shares in the last quarter. 72.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE NSC opened at $156.64 on Wednesday. The stock has a market capitalization of $41.00 billion, a PE ratio of 23.70, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.86 and a quick ratio of 0.75. Norfolk Southern Corp. has a fifty-two week low of $127.79 and a fifty-two week high of $186.91.
Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.08. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the business posted $1.75 EPS. Norfolk Southern’s revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Norfolk Southern Corp. will post 9.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 10th. Investors of record on Friday, November 2nd were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, November 1st. This represents a $3.20 annualized dividend and a yield of 2.04%. Norfolk Southern’s dividend payout ratio (DPR) is currently 48.41%.
A number of equities analysts have issued reports on NSC shares. Credit Suisse Group lowered their target price on Norfolk Southern from $188.00 to $187.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Edward Jones cut Norfolk Southern from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Zacks Investment Research cut Norfolk Southern from a “buy” rating to a “hold” rating in a report on Tuesday, December 11th. Loop Capital upgraded Norfolk Southern from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $190.00 in a report on Wednesday, October 24th. Finally, Barclays reiterated a “hold” rating and set a $190.00 target price on shares of Norfolk Southern in a report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Norfolk Southern currently has a consensus rating of “Hold” and a consensus price target of $176.42.
In related news, COO Michael Joseph Wheeler sold 801 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $172.55, for a total value of $138,212.55. Following the completion of the sale, the chief operating officer now directly owns 9,406 shares in the company, valued at approximately $1,623,005.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.
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.
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