Quantitative Investment Management LLC lowered its stake in Norfolk Southern Corp. (NYSE:NSC) by 76.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,900 shares of the railroad operator’s stock after selling 111,500 shares during the period. Quantitative Investment Management LLC’s holdings in Norfolk Southern were worth $5,057,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Sawyer & Company Inc acquired a new position in shares of Norfolk Southern during the 4th quarter worth about $104,000. Arcadia Investment Management Corp MI lifted its position in shares of Norfolk Southern by 165.1% during the 4th quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock worth $121,000 after purchasing an additional 520 shares during the last quarter. Welch Investments LLC acquired a new position in shares of Norfolk Southern during the 4th quarter worth about $156,000. Advantage Investment Management LLC lifted its position in shares of Norfolk Southern by 43.6% during the 3rd quarter. Advantage Investment Management LLC now owns 1,363 shares of the railroad operator’s stock worth $180,000 after purchasing an additional 414 shares during the last quarter. Finally, Calton & Associates Inc. acquired a new position in shares of Norfolk Southern during the 4th quarter worth about $191,000. 72.50% of the stock is owned by institutional investors.
In related news, VP Thomas E. Hurlbut sold 467 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $150.17, for a total transaction of $70,129.39. Following the transaction, the vice president now directly owns 5,000 shares in the company, valued at $750,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman James A. Squires sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $150.10, for a total value of $1,501,000.00. The disclosure for this sale can be found here. Insiders have sold 13,166 shares of company stock worth $1,958,040 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.
Norfolk Southern Corp. (NSC) opened at $142.38 on Wednesday. Norfolk Southern Corp. has a 12 month low of $109.27 and a 12 month high of $157.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.84. The stock has a market capitalization of $40,486.64, a PE ratio of 21.50, a P/E/G ratio of 1.41 and a beta of 1.32.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results 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. Norfolk Southern had a return on equity of 14.16% and a net margin of 51.22%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. equities analysts anticipate that Norfolk Southern Corp. will post 8.43 EPS for the current fiscal year.
The company also recently declared 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 represents a $2.88 annualized dividend and a yield of 2.02%. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, February 1st. Norfolk Southern’s payout ratio is currently 15.38%.
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Norfolk Southern 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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