Brown Advisory Inc. lifted its stake in Norfolk Southern Corp. (NYSE:NSC) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,750 shares of the railroad operator’s stock after purchasing an additional 1,068 shares during the quarter. Brown Advisory Inc.’s holdings in Norfolk Southern were worth $11,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its position in Norfolk Southern by 14,153.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock valued at $152,000 after acquiring an additional 22,615,008 shares in the last quarter. Vanguard Group Inc raised its position in Norfolk Southern by 1.6% during the third quarter. Vanguard Group Inc now owns 21,159,132 shares of the railroad operator’s stock valued at $3,819,223,000 after acquiring an additional 336,725 shares in the last quarter. BlackRock Inc. raised its position in Norfolk Southern by 0.9% during the fourth quarter. BlackRock Inc. now owns 20,052,895 shares of the railroad operator’s stock valued at $2,998,712,000 after acquiring an additional 169,821 shares in the last quarter. FMR LLC raised its position in Norfolk Southern by 14.8% during the third quarter. FMR LLC now owns 8,080,231 shares of the railroad operator’s stock valued at $1,458,480,000 after acquiring an additional 1,043,444 shares in the last quarter. Finally, Capital International Investors raised its position in Norfolk Southern by 47.1% during the third quarter. Capital International Investors now owns 7,020,157 shares of the railroad operator’s stock valued at $1,267,138,000 after acquiring an additional 2,249,296 shares in the last quarter. 73.37% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on NSC. Royal Bank of Canada lowered shares of Norfolk Southern from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from $180.00 to $178.00 in a research report on Tuesday, February 19th. TD Securities raised their price objective on shares of Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 12th. ValuEngine downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Loop Capital increased their price target on Norfolk Southern to $210.00 and gave the company a “buy” rating in a report on Monday, February 11th. Finally, UBS Group increased their price target on Norfolk Southern from $190.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $185.37.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 24th. The railroad operator reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.27. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.85 billion. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. Norfolk Southern’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $1.69 earnings per share. On average, sell-side analysts anticipate that Norfolk Southern Corp. will post 10.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 4th were paid a $0.86 dividend. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 1st. This represents a $3.44 annualized dividend and a dividend yield of 1.92%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.17%.
In other news, VP Jason Andrew Zampi sold 519 shares of the firm’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $181.34, for a total value of $94,115.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michael Joseph Wheeler sold 4,761 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $180.23, for a total transaction of $858,075.03. Following the completion of the sale, the chief operating officer now owns 19,724 shares in the company, valued at approximately $3,554,856.52. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
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Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.
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