HBK Investments L P trimmed its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 405,425 shares of the railroad operator’s stock after selling 29,485 shares during the quarter. Norfolk Southern accounts for approximately 0.6% of HBK Investments L P’s portfolio, making the stock its 13th biggest position. HBK Investments L P owned about 0.14% of Norfolk Southern worth $58,746,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Somerset Trust Co increased its position in shares of Norfolk Southern by 2.4% during the 4th quarter. Somerset Trust Co now owns 14,222 shares of the railroad operator’s stock worth $2,061,000 after purchasing an additional 338 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Norfolk Southern by 0.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,624 shares of the railroad operator’s stock valued at $9,219,000 after acquiring an additional 345 shares during the period. United Bank boosted its holdings in Norfolk Southern by 3.9% during the 4th quarter. United Bank now owns 9,708 shares of the railroad operator’s stock valued at $1,407,000 after acquiring an additional 365 shares during the period. First Allied Advisory Services Inc. boosted its holdings in Norfolk Southern by 7.6% during the 4th quarter. First Allied Advisory Services Inc. now owns 5,386 shares of the railroad operator’s stock valued at $781,000 after acquiring an additional 379 shares during the period. Finally, Global Financial Private Capital LLC boosted its holdings in Norfolk Southern by 8.9% during the 4th quarter. Global Financial Private Capital LLC now owns 4,751 shares of the railroad operator’s stock valued at $688,000 after acquiring an additional 387 shares during the period. 72.50% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. Royal Bank of Canada restated a “sell” rating and set a $137.00 target price on shares of Norfolk Southern in a report on Tuesday, January 9th. Goldman Sachs Group assumed coverage on Norfolk Southern in a report on Monday, November 13th. They set a “neutral” rating and a $126.00 target price for the company. Cowen restated an “outperform” rating and set a $165.00 target price (up from $143.00) on shares of Norfolk Southern in a report on Thursday, January 25th. JPMorgan Chase & Co. lowered their target price on Norfolk Southern from $154.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Finally, Credit Suisse Group restated 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $140.15.
Norfolk Southern Corp. (NSC) opened at $145.53 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.84 and a quick ratio of 0.76. The stock has a market capitalization of $41,330.11, a PE 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 announced its quarterly earnings data on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.13. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Norfolk Southern had a return on equity of 14.16% and a net margin of 51.22%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 EPS. sell-side analysts expect that Norfolk Southern Corp. will post 8.43 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 2nd were paid a dividend of $0.72 per share. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, February 1st. This represents a $2.88 annualized dividend and a yield of 1.98%. Norfolk Southern’s payout ratio is presently 15.38%.
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About Norfolk Southern
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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