Public Employees Retirement Association of Colorado lifted its holdings in Norfolk Southern Corp. (NYSE:NSC) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 53,463 shares of the railroad operator’s stock after purchasing an additional 1,847 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Norfolk Southern were worth $7,747,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its stake in Norfolk Southern by 24.3% during the fourth quarter. Everence Capital Management Inc. now owns 5,773 shares of the railroad operator’s stock valued at $837,000 after buying an additional 1,128 shares in the last quarter. Cadence Bank NA boosted its stake in Norfolk Southern by 4.1% during the fourth quarter. Cadence Bank NA now owns 18,853 shares of the railroad operator’s stock valued at $2,732,000 after buying an additional 743 shares in the last quarter. Linscomb & Williams Inc. boosted its stake in Norfolk Southern by 2.5% during the fourth quarter. Linscomb & Williams Inc. now owns 36,283 shares of the railroad operator’s stock valued at $5,257,000 after buying an additional 891 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in Norfolk Southern during the fourth quarter valued at about $628,000. Finally, Aperio Group LLC boosted its stake in Norfolk Southern by 6.2% during the fourth quarter. Aperio Group LLC now owns 157,294 shares of the railroad operator’s stock valued at $22,792,000 after buying an additional 9,245 shares in the last quarter. 72.87% of the stock is owned by institutional investors.
In other news, VP Thomas E. Hurlbut sold 6,175 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $129.61, for a total transaction of $800,341.75. Following the completion of the sale, the vice president now directly owns 7,568 shares of the company’s stock, valued at approximately $980,888.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas E. Hurlbut sold 467 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $150.17, for a total value of $70,129.39. Following the sale, the vice president now directly owns 5,000 shares of the company’s stock, valued at $750,850. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,012 shares of company stock valued at $2,690,734. Company insiders own 0.36% of the company’s stock.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.13. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.66 billion. Norfolk Southern had a return on equity of 14.16% and a net margin of 51.22%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 EPS. analysts predict that Norfolk Southern Corp. will post 8.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 2nd will be paid a $0.72 dividend. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.61. This represents a $2.88 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, February 1st. Norfolk Southern’s dividend payout ratio is currently 15.38%.
Several research analysts recently weighed in on the company. Cleveland Research reaffirmed a “hold” rating on shares of Norfolk Southern in a research note on Monday, January 15th. Loop Capital raised their target price on Norfolk Southern to $144.00 and gave the company a “sell” rating in a research note on Friday, January 12th. Scotiabank raised Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 target price for the company in a research note on Friday, January 12th. Royal Bank of Canada reaffirmed a “sell” rating and set a $137.00 target price on shares of Norfolk Southern in a report on Tuesday, January 9th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $177.00 target price on shares of Norfolk Southern in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $140.85.
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Norfolk Southern Company Profile
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.
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