Bronfman E.L. Rothschild L.P. decreased its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,164 shares of the railroad operator’s stock after selling 234 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Norfolk Southern were worth $1,071,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Bruderman Asset Management LLC purchased a new position in shares of Norfolk Southern during the fourth quarter worth $26,000. Intercontinental Wealth Advisors LLC purchased a new position in shares of Norfolk Southern during the fourth quarter worth $27,000. Moody National Bank Trust Division purchased a new position in shares of Norfolk Southern during the fourth quarter worth $31,000. PRW Wealth Management LLC purchased a new position in shares of Norfolk Southern during the fourth quarter worth $36,000. Finally, Arlington Partners LLC purchased a new position in shares of Norfolk Southern during the fourth quarter worth $37,000. 73.37% of the stock is owned by institutional investors.
Several research firms have recently commented on NSC. Deutsche Bank lowered Norfolk Southern from a “buy” rating to a “hold” rating and set a $177.00 price target for the company. in a research report on Friday, January 25th. Credit Suisse Group raised their price target on Norfolk Southern from $181.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 12th. TD Securities raised their price target on Norfolk Southern from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 25th. UBS Group raised their price target on Norfolk Southern from $190.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, February 12th. Finally, ValuEngine upgraded Norfolk Southern from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $185.37.
Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.27. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.85 billion. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. Norfolk Southern’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $1.69 earnings per share. Equities research analysts predict that Norfolk Southern Corp. will post 10.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 4th were issued a $0.86 dividend. The ex-dividend date was Friday, February 1st. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.80. This represents a $3.44 dividend on an annualized basis and a yield of 1.92%. Norfolk Southern’s dividend payout ratio (DPR) is 36.17%.
In related news, COO Michael Joseph Wheeler sold 4,761 shares of Norfolk Southern stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $180.23, for a total value of $858,075.03. Following the completion of the transaction, the chief operating officer now directly owns 19,724 shares in the company, valued at $3,554,856.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jason Andrew Zampi sold 519 shares of Norfolk Southern 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 disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
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Norfolk Southern Company 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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