SG Americas Securities LLC cut its stake in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 70.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,835 shares of the railroad operator’s stock after selling 6,648 shares during the quarter. SG Americas Securities LLC’s holdings in Norfolk Southern were worth $665,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in Norfolk Southern in the third quarter valued at about $25,000. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern in the third quarter valued at approximately $30,000. Coastline Trust Co bought a new position in Norfolk Southern in the 3rd quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in Norfolk Southern in the 3rd quarter valued at approximately $33,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 75.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on NSC. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research note on Thursday. Stephens lifted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group raised their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Bank of America upped their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, TD Cowen raised their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.74.
Norfolk Southern Price Performance
NSC stock opened at $257.50 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company’s 50-day moving average is $249.36 and its 200-day moving average is $248.69. The stock has a market capitalization of $58.26 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Equities research analysts expect that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.
Norfolk Southern Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.10%. Norfolk Southern’s payout ratio is 50.70%.
Insider Buying and Selling at Norfolk Southern
In related news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.
Norfolk Southern Company Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.
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