HPM Partners LLC cut its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,392 shares of the railroad operator’s stock after selling 753 shares during the quarter. HPM Partners LLC’s holdings in Norfolk Southern were worth $2,375,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in NSC. Raymond James Financial Services Advisors Inc. grew its stake in shares of Norfolk Southern by 11.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 92,534 shares of the railroad operator’s stock valued at $12,237,000 after acquiring an additional 9,721 shares during the period. Breton Hill Capital Ltd. bought a new position in shares of Norfolk Southern during the 3rd quarter valued at approximately $225,000. Global X MANAGEMENT CO LLC grew its stake in shares of Norfolk Southern by 14.9% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 8,304 shares of the railroad operator’s stock valued at $1,098,000 after acquiring an additional 1,074 shares during the period. CIBC Asset Management Inc grew its stake in shares of Norfolk Southern by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 28,846 shares of the railroad operator’s stock valued at $3,815,000 after acquiring an additional 895 shares during the period. Finally, BTC Capital Management Inc. grew its stake in shares of Norfolk Southern by 4.1% during the 3rd quarter. BTC Capital Management Inc. now owns 38,291 shares of the railroad operator’s stock valued at $5,066,000 after acquiring an additional 1,492 shares during the period. Institutional investors own 72.50% of the company’s stock.
In related news, VP Thomas E. Hurlbut sold 467 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $150.17, for a total transaction of $70,129.39. Following the sale, the vice president now owns 5,000 shares in the company, valued at approximately $750,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas E. Hurlbut sold 1,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $142.90, for a total value of $142,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,166 shares of company stock valued at $1,958,040 over the last quarter. Corporate insiders own 0.36% of the company’s stock.
Norfolk Southern Corp. (NYSE NSC) opened at $145.53 on Monday. 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 company has a market capitalization of $41,330.11, a P/E ratio of 21.95, a PEG ratio of 1.44 and a beta of 1.32. Norfolk Southern Corp. has a 52-week low of $109.27 and a 52-week high of $157.15.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 24th. The railroad operator reported $1.69 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. sell-side analysts predict that Norfolk Southern Corp. will post 8.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 2nd were given a dividend of $0.72 per share. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.61. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Thursday, February 1st. 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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