ETRADE Capital Management LLC lessened its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,045 shares of the railroad operator’s stock after selling 214 shares during the quarter. ETRADE Capital Management LLC’s holdings in Norfolk Southern were worth $605,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at approximately $27,000. Moody National Bank Trust Division acquired a new position in shares of Norfolk Southern in the 4th quarter worth approximately $31,000. Arlington Partners LLC acquired a new position in shares of Norfolk Southern in the 4th quarter worth approximately $37,000. Athena Capital Advisors LLC acquired a new position in shares of Norfolk Southern in the 4th quarter worth approximately $39,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Norfolk Southern in the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 75.21% of the company’s stock.
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In related news, VP Jason Andrew Zampi sold 519 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $181.34, for a total transaction of $94,115.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Michael Joseph Wheeler sold 4,761 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $180.23, for a total value of $858,075.03. Following the transaction, the chief operating officer now owns 19,724 shares in the company, valued at $3,554,856.52. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
Shares of NYSE:NSC opened at $178.87 on Monday. Norfolk Southern Corp. has a fifty-two week low of $127.79 and a fifty-two week high of $186.91. The stock has a market capitalization of $49.02 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 1.56 and a beta of 1.38. The company has a quick ratio of 0.64, a current ratio of 0.72 and a debt-to-equity ratio of 0.69.
Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 24th. The railroad operator reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.27. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the firm earned $1.69 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts predict that Norfolk Southern Corp. will post 10.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Monday, February 4th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, February 1st. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.80. Norfolk Southern’s payout ratio is currently 36.17%.
NSC has been the topic of several recent analyst reports. Zacks Investment Research downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. Morgan Stanley boosted their price objective on Norfolk Southern from $115.00 to $116.00 and gave the stock an “underweight” rating in a research note on Monday, January 7th. Royal Bank of Canada downgraded Norfolk Southern from a “sector perform” rating to an “underperform” rating and dropped their price objective for the stock from $180.00 to $178.00 in a research note on Tuesday, February 19th. TD Securities lifted their target price on Norfolk Southern from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 25th. Finally, Loop Capital lifted their target price on Norfolk Southern to $210.00 and gave the stock a “buy” rating in a report on Monday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $183.37.
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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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