Sandy Spring Bank cut its stake in Norfolk Southern Corp. (NYSE:NSC) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,478 shares of the railroad operator’s stock after selling 541 shares during the period. Sandy Spring Bank’s holdings in Norfolk Southern were worth $6,111,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Norfolk Southern by 6.3% during the 4th quarter. State Street Corp now owns 11,721,095 shares of the railroad operator’s stock worth $2,275,416,000 after buying an additional 692,117 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Norfolk Southern by 582.7% during the 4th quarter. Artemis Investment Management LLP now owns 527,530 shares of the railroad operator’s stock worth $102,328,000 after buying an additional 450,264 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Norfolk Southern by 5,312.9% during the 3rd quarter. Fisher Asset Management LLC now owns 348,863 shares of the railroad operator’s stock worth $62,677,000 after buying an additional 342,418 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Norfolk Southern by 7,767.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 310,053 shares of the railroad operator’s stock worth $60,191,000 after buying an additional 306,112 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Norfolk Southern by 230.6% during the 3rd quarter. First Trust Advisors LP now owns 322,665 shares of the railroad operator’s stock worth $57,970,000 after buying an additional 225,069 shares in the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.
In other Norfolk Southern news, EVP Ann A. Adams sold 1,336 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $208.16, for a total value of $278,101.76. Following the sale, the executive vice president now owns 6,950 shares in the company, valued at approximately $1,446,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jason Andrew Zampi sold 1,270 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $212.45, for a total value of $269,811.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,724 shares of company stock valued at $3,125,979. Insiders own 0.19% of the company’s stock.
NSC traded down $1.14 on Friday, reaching $209.35. The stock had a trading volume of 696,327 shares, compared to its average volume of 1,659,075. Norfolk Southern Corp. has a fifty-two week low of $166.57 and a fifty-two week high of $219.88. The firm has a 50-day moving average of $203.58 and a 200-day moving average of $188.51. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $54.37 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34.
Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.27. Norfolk Southern had a return on equity of 18.04% and a net margin of 24.10%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Norfolk Southern Corp. will post 11.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.80%. Norfolk Southern’s payout ratio is presently 36.36%.
Norfolk Southern Company Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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