Brinker Capital Inc. increased its holdings in Norfolk Southern Corp. (NYSE:NSC) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,633 shares of the railroad operator’s stock after purchasing an additional 1,456 shares during the period. Brinker Capital Inc.’s holdings in Norfolk Southern were worth $2,258,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in NSC. Arcadia Investment Management Corp MI increased its position in Norfolk Southern by 165.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock worth $121,000 after purchasing an additional 520 shares during the last quarter. NuWave Investment Management LLC bought a new stake in Norfolk Southern in the first quarter worth $124,000. Corbyn Investment Management Inc. MD bought a new stake in Norfolk Southern in the first quarter worth $130,000. Certified Advisory Corp bought a new stake in Norfolk Southern in the fourth quarter worth $137,000. Finally, Welch Investments LLC bought a new stake in Norfolk Southern in the fourth quarter worth $156,000. Institutional investors own 73.01% of the company’s stock.
NSC has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Norfolk Southern from $100.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, April 26th. Sanford C. Bernstein boosted their price target on shares of Norfolk Southern from $149.00 to $155.00 and gave the stock a “market perform” rating in a research report on Thursday, April 26th. Credit Suisse Group boosted their price target on shares of Norfolk Southern from $155.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, April 26th. BMO Capital Markets boosted their price target on shares of Norfolk Southern from $156.00 to $160.00 and gave the stock a “market perform” rating in a research report on Thursday, April 26th. Finally, UBS lifted their price objective on shares of Norfolk Southern from $186.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday, April 26th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $146.52.
In other news, VP Thomas E. Hurlbut sold 2,760 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $152.00, for a total transaction of $419,520.00. Following the completion of the sale, the vice president now directly owns 2,760 shares of the company’s stock, valued at $419,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas E. Hurlbut sold 2,762 shares of the business’s stock in a transaction on Friday, April 27th. The shares were sold at an average price of $145.51, for a total transaction of $401,898.62. Following the sale, the vice president now directly owns 5,432 shares of the company’s stock, valued at $790,410.32. The disclosure for this sale can be found here. Insiders have sold 14,110 shares of company stock valued at $2,118,405 over the last three months. Insiders own 0.36% of the company’s stock.
Shares of NSC opened at $153.02 on Friday. The firm has a market cap of $43.23 billion, a PE ratio of 23.15, a P/E/G ratio of 1.49 and a beta of 1.31. Norfolk Southern Corp. has a 12-month low of $111.44 and a 12-month high of $157.15. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 0.59.
Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 25th. The railroad operator reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.16. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. Norfolk Southern had a net margin of 51.65% and a return on equity of 14.04%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 earnings per share. analysts predict that Norfolk Southern Corp. will post 8.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Friday, May 4th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 3rd. Norfolk Southern’s dividend payout ratio is currently 43.57%.
Norfolk Southern Company 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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