Planning Directions Inc. acquired a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 815 shares of the railroad operator’s stock, valued at approximately $219,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IHT Wealth Management LLC acquired a new position in Norfolk Southern during the 3rd quarter valued at about $603,000. Sei Investments Co. lifted its stake in shares of Norfolk Southern by 1.2% in the 3rd quarter. Sei Investments Co. now owns 121,200 shares of the railroad operator’s stock worth $26,028,000 after acquiring an additional 1,378 shares during the period. Thomasville National Bank lifted its stake in shares of Norfolk Southern by 1.9% in the 4th quarter. Thomasville National Bank now owns 3,154 shares of the railroad operator’s stock worth $750,000 after acquiring an additional 60 shares during the period. Private Trust Co. NA lifted its stake in shares of Norfolk Southern by 84.9% in the 4th quarter. Private Trust Co. NA now owns 5,505 shares of the railroad operator’s stock worth $1,308,000 after acquiring an additional 2,527 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services lifted its stake in shares of Norfolk Southern by 2.0% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 6,411 shares of the railroad operator’s stock worth $1,524,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 67.25% of the company’s stock.
NSC has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on shares of Norfolk Southern from $250.00 to $285.00 and gave the stock a “market perform” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Benchmark raised their price objective on Norfolk Southern from $295.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Barclays lifted their price objective on Norfolk Southern from $272.00 to $300.00 and gave the stock an “equal weight” rating in a report on Thursday, April 29th. Argus boosted their price target on Norfolk Southern from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Vertical Research began coverage on Norfolk Southern in a research note on Friday, March 26th. They issued a “hold” rating and a $240.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $259.24.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 28th. The railroad operator reported $2.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.11. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.62 billion. Norfolk Southern had a return on equity of 15.83% and a net margin of 20.27%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 earnings per share. As a group, equities research analysts forecast that Norfolk Southern Co. will post 9.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 20th. Investors of record on Friday, May 7th will be issued a dividend of $0.99 per share. The ex-dividend date is Thursday, May 6th. This represents a $3.96 annualized dividend and a yield of 1.39%. Norfolk Southern’s dividend payout ratio (DPR) is currently 38.30%.
In related news, EVP Ann A. Adams sold 2,460 shares of the company’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $255.00, for a total transaction of $627,300.00. Following the completion of the sale, the executive vice president now owns 9,601 shares in the company, valued at $2,448,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.
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