Twin Tree Management LP Buys Shares of 2,676 Norfolk Southern Corp. (NYSE:NSC)

Twin Tree Management LP acquired a new stake in shares of Norfolk Southern Corp. (NYSE:NSC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,676 shares of the railroad operator’s stock, valued at approximately $388,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Norfolk Southern by 2.2% during the fourth quarter. Arizona State Retirement System now owns 103,310 shares of the railroad operator’s stock worth $14,970,000 after buying an additional 2,200 shares in the last quarter. Lehman Financial Resources Inc. acquired a new position in shares of Norfolk Southern during the fourth quarter worth $207,000. First Allied Advisory Services Inc. increased its holdings in shares of Norfolk Southern by 7.6% during the fourth quarter. First Allied Advisory Services Inc. now owns 5,386 shares of the railroad operator’s stock worth $781,000 after buying an additional 379 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Norfolk Southern by 4.6% during the fourth quarter. D.A. Davidson & CO. now owns 20,679 shares of the railroad operator’s stock worth $2,996,000 after buying an additional 916 shares in the last quarter. Finally, Independence Bank of Kentucky acquired a new position in shares of Norfolk Southern during the fourth quarter worth $246,000. Institutional investors and hedge funds own 73.77% of the company’s stock.

Several research analysts have recently issued reports on the stock. Cleveland Research reiterated a “hold” rating on shares of Norfolk Southern in a report on Monday, January 15th. Loop Capital upped their price target on shares of Norfolk Southern to $144.00 and gave the stock a “sell” rating in a report on Friday, January 12th. Scotiabank upgraded shares of Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 price target for the company in a report on Friday, January 12th. Royal Bank of Canada reiterated a “sell” rating and set a $137.00 price target on shares of Norfolk Southern in a report on Tuesday, January 9th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $177.00 price target on shares of Norfolk Southern in a report on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $140.85.

Shares of Norfolk Southern Corp. (NYSE NSC) traded up $1.14 on Friday, reaching $142.62. 1,348,275 shares of the company’s stock were exchanged, compared to its average volume of 1,713,507. The company has a quick ratio of 0.76, a current ratio of 0.84 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $40,179.92, a PE ratio of 7.61, a P/E/G ratio of 1.40 and a beta of 1.29. Norfolk Southern Corp. has a twelve month low of $109.27 and a twelve month high of $157.15.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 24th. The railroad operator reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.13. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Norfolk Southern had a net margin of 51.22% and a return on equity of 14.16%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 earnings per share. research analysts forecast that Norfolk Southern Corp. will post 8.44 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 2nd will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $2.88 dividend on an annualized basis and a yield of 2.02%. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s dividend payout ratio is 15.38%.

In other Norfolk Southern news, Chairman James A. Squires sold 10,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $150.10, for a total transaction of $1,501,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 467 shares of the company’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 in the company, valued at approximately $750,850. The disclosure for this sale can be found here. Insiders have sold 15,536 shares of company stock worth $2,277,302 in the last ninety days. Insiders own 0.36% of the company’s stock.

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About Norfolk Southern

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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