Sei Investments Co. reduced its holdings in Norfolk Southern Corp. (NYSE:NSC) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 125,589 shares of the railroad operator’s stock after selling 5,498 shares during the period. Sei Investments Co.’s holdings in Norfolk Southern were worth $18,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in NSC. Commonwealth Bank of Australia boosted its holdings in shares of Norfolk Southern by 2,921.5% in the 3rd quarter. Commonwealth Bank of Australia now owns 1,277,777 shares of the railroad operator’s stock valued at $168,353,000 after acquiring an additional 1,235,488 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Norfolk Southern by 124.5% in the 4th quarter. American Century Companies Inc. now owns 1,231,991 shares of the railroad operator’s stock valued at $178,515,000 after acquiring an additional 683,170 shares during the last quarter. Vaughan David Investments Inc. IL boosted its holdings in shares of Norfolk Southern by 6,127.8% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 612,319 shares of the railroad operator’s stock valued at $29,606,000 after acquiring an additional 602,487 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Norfolk Southern by 61.2% in the 3rd quarter. Prudential Financial Inc. now owns 1,143,908 shares of the railroad operator’s stock valued at $151,270,000 after acquiring an additional 434,160 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Norfolk Southern by 73.1% in the 3rd quarter. Epoch Investment Partners Inc. now owns 372,632 shares of the railroad operator’s stock valued at $49,276,000 after purchasing an additional 157,374 shares during the period. 73.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Thomas E. Hurlbut sold 6,175 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were 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 owns 7,568 shares of the company’s stock, valued at $980,888.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Hurlbut sold 2,370 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $134.71, for a total transaction of $319,262.70. Following the sale, the vice president now directly owns 6,370 shares of the company’s stock, valued at approximately $858,102.70. The disclosure for this sale can be found here. Insiders have sold 19,012 shares of company stock valued at $2,690,734 over the last 90 days. 0.36% of the stock is currently owned by company insiders.
Norfolk Southern Corp. (NYSE:NSC) opened at $142.64 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The firm has a market cap of $40,509.36, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 1.41 and a beta of 1.29. Norfolk Southern Corp. has a 12-month low of $109.27 and a 12-month high of $157.15.
Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.13. The company had revenue of $2.67 billion during 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 firm’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 posted $1.42 earnings per share. equities analysts predict that Norfolk Southern Corp. will post 8.44 EPS for the current fiscal year.
The business also recently disclosed 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 is a boost from Norfolk Southern’s previous quarterly dividend of $0.61. This represents a $2.88 dividend on an annualized basis and a yield of 2.02%. Norfolk Southern’s dividend payout ratio is currently 15.38%.
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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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