L & S Advisors Inc reduced its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 86.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,860 shares of the railroad operator’s stock after selling 44,689 shares during the quarter. L & S Advisors Inc’s holdings in Norfolk Southern were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in NSC. Oregon Public Employees Retirement Fund grew its holdings in Norfolk Southern by 14,153.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock valued at $152,000 after buying an additional 22,615,008 shares in the last quarter. Capital International Investors boosted its position in shares of Norfolk Southern by 47.1% during the 3rd 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 during the last quarter. Packer & Co Ltd boosted its position in shares of Norfolk Southern by 597.3% during the 4th quarter. Packer & Co Ltd now owns 1,239,800 shares of the railroad operator’s stock valued at $26,588,000 after acquiring an additional 1,062,000 shares during the last quarter. FMR LLC boosted its position in shares of Norfolk Southern by 14.8% during the 3rd 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 during the last quarter. Finally, Swedbank bought a new position in shares of Norfolk Southern during the 4th quarter valued at approximately $127,592,000. 73.37% of the stock is owned by institutional investors and hedge funds.
In other 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 transaction of $858,075.03. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, VP Jason Andrew Zampi sold 519 shares of Norfolk Southern stock in a transaction on Thursday, February 14th. The stock was 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. 0.23% of the stock is currently owned by company insiders.
Shares of NYSE:NSC traded up $1.25 on Friday, hitting $180.24. 17,099 shares of the company’s stock were exchanged, compared to its average volume of 1,836,050. Norfolk Southern Corp. has a 12 month low of $127.79 and a 12 month high of $186.91. The company has a market cap of $47.97 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.43. The company has a current ratio of 0.72, a quick ratio of 0.64 and a debt-to-equity ratio of 0.69.
Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.27. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the company earned $1.69 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Norfolk Southern Corp. will post 10.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 4th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.91%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, February 1st. Norfolk Southern’s dividend payout ratio (DPR) is 36.17%.
About Norfolk Southern
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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