Public Employees Retirement System of Ohio increased its stake in Norfolk Southern Corp. (NYSE:NSC) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,361 shares of the railroad operator’s stock after acquiring an additional 8,954 shares during the period. Public Employees Retirement System of Ohio’s holdings in Norfolk Southern were worth $30,336,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in NSC. Krilogy Financial LLC raised its stake in shares of Norfolk Southern by 2.6% in the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after acquiring an additional 22 shares in the last quarter. Sawyer & Company Inc acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $104,000. Arcadia Investment Management Corp MI raised its stake in shares of Norfolk Southern by 165.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock valued at $121,000 after acquiring an additional 520 shares in the last quarter. Atlantic Trust LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at $144,000. Finally, Welch Investments LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $156,000. Institutional investors and hedge funds own 72.93% of the company’s stock.
NSC has been the topic of several analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $127.00 price objective on shares of Norfolk Southern in a research note on Friday, October 20th. Morgan Stanley increased their price objective on Norfolk Southern from $75.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, October 26th. UBS Group increased their price objective on Norfolk Southern from $133.00 to $154.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Loop Capital increased their price objective on Norfolk Southern from $127.00 to $133.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, TD Securities increased their price objective on Norfolk Southern from $130.00 to $135.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Three equities research 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. The stock has a consensus rating of “Hold” and an average target price of $140.85.
Norfolk Southern Corp. (NYSE NSC) opened at $142.25 on Thursday. The company has a market capitalization of $39,847.64, a price-to-earnings ratio of 7.59, a P/E/G ratio of 1.39 and a beta of 1.29. The company has a quick ratio of 0.76, a current ratio of 0.84 and a debt-to-equity ratio of 0.56. Norfolk Southern Corp. has a twelve month low of $109.27 and a twelve month high of $157.15.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.13. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates 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 company posted $1.42 earnings per share. equities analysts expect that Norfolk Southern Corp. will post 8.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 2nd will be issued a dividend of $0.72 per share. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $2.88 annualized dividend and a dividend yield of 2.02%. Norfolk Southern’s dividend payout ratio (DPR) is presently 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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