Greenleaf Trust trimmed its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,684 shares of the railroad operator’s stock after selling 173 shares during the period. Greenleaf Trust’s holdings in Norfolk Southern were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of NSC. Intercontinental Wealth Advisors LLC acquired a new stake in Norfolk Southern during the fourth quarter worth about $27,000. Moody National Bank Trust Division acquired a new stake in Norfolk Southern during the fourth quarter worth about $31,000. Arlington Partners LLC acquired a new stake in Norfolk Southern during the fourth quarter worth about $37,000. Contravisory Investment Management Inc. acquired a new stake in Norfolk Southern during the fourth quarter worth about $45,000. Finally, Trust Department MB Financial Bank N A acquired a new stake in Norfolk Southern during the fourth quarter worth about $47,000. 75.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:NSC opened at $182.94 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.64 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $48.88 billion, a PE ratio of 19.24, a PEG ratio of 1.56 and a beta of 1.38. Norfolk Southern Corp. has a 1 year low of $127.79 and a 1 year high of $186.91.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.27. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.85 billion. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.69 earnings per share. Research analysts anticipate that Norfolk Southern Corp. will post 10.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Monday, February 4th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Friday, February 1st. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.80. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.88%. Norfolk Southern’s payout ratio is currently 36.17%.
NSC has been the topic of several analyst reports. Credit Suisse Group dropped their target price on Norfolk Southern from $188.00 to $187.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Zacks Investment Research reissued a “buy” rating and issued a $162.00 price objective on shares of Norfolk Southern in a report on Monday, December 31st. TD Securities raised their price objective on Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 12th. Argus reissued a “buy” rating on shares of Norfolk Southern in a report on Thursday, January 3rd. Finally, JPMorgan Chase & Co. raised Norfolk Southern from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $198.00 to $203.00 in a report on Tuesday, December 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $183.37.
In other news, COO Michael Joseph Wheeler sold 4,761 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $180.23, for a total value of $858,075.03. Following the sale, the chief operating officer now directly owns 19,724 shares of the company’s stock, valued at $3,554,856.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jason Andrew Zampi sold 519 shares of Norfolk Southern stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $181.34, for a total value of $94,115.46. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
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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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