Advisor Group Inc. increased its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 55.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,622 shares of the railroad operator’s stock after acquiring an additional 10,923 shares during the period. Advisor Group Inc.’s holdings in Norfolk Southern were worth $4,436,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in NSC. Patten Group Inc. increased its position in Norfolk Southern by 533.7% during the third quarter. Patten Group Inc. now owns 55,343 shares of the railroad operator’s stock worth $1,135,000 after buying an additional 46,610 shares during the last quarter. McCollum Christoferson Group LLC acquired a new position in Norfolk Southern during the fourth quarter worth $5,675,000. Stonebridge Capital Advisors LLC acquired a new position in Norfolk Southern during the third quarter worth $296,000. Carroll Financial Associates Inc. increased its position in Norfolk Southern by 29.2% during the fourth quarter. Carroll Financial Associates Inc. now owns 5,134 shares of the railroad operator’s stock worth $743,000 after buying an additional 1,161 shares during the last quarter. Finally, Buckingham Asset Management LLC acquired a new position in Norfolk Southern during the third quarter worth $277,000. Institutional investors and hedge funds own 72.50% of the company’s stock.
Shares of Norfolk Southern Corp. (NYSE:NSC) opened at $142.56 on Tuesday. The stock has a market capitalization of $40,490.00, a PE ratio of 19.99, a PEG ratio of 1.44 and a beta of 1.32. Norfolk Southern Corp. has a 1 year low of $109.27 and a 1 year high of $157.15. 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 business also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 2nd were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, February 1st. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s dividend payout ratio (DPR) is presently 40.39%.
In related news, VP Thomas E. Hurlbut sold 467 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $150.17, for a total value of $70,129.39. Following the completion of the sale, the vice president now owns 5,000 shares in the company, valued at $750,850. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas E. Hurlbut sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $142.90, for a total transaction of $142,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,166 shares of company stock valued at $1,958,040. 0.36% of the stock is owned by corporate insiders.
Several research firms have commented on NSC. Credit Suisse Group reissued an “outperform” rating and set a $166.00 target price (down from $178.00) on shares of Norfolk Southern in a research report on Thursday, March 8th. Cowen reissued an “outperform” rating and set a $163.00 target price (down from $165.00) on shares of Norfolk Southern in a research report on Wednesday, February 28th. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research report on Monday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of Norfolk Southern from $154.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Finally, Morgan Stanley increased their target price on shares of Norfolk Southern from $77.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $140.15.
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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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