Norfolk Southern Corp. (NSC) Position Boosted by Schroder Investment Management Group
Schroder Investment Management Group boosted its holdings in Norfolk Southern Corp. (NYSE:NSC) by 104.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 34,690 shares of the railroad operator’s stock after purchasing an additional 17,700 shares during the quarter. Schroder Investment Management Group’s holdings in Norfolk Southern were worth $5,027,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of NSC. Sawyer & Company Inc purchased a new position in shares of Norfolk Southern during the fourth quarter worth about $104,000. Arcadia Investment Management Corp MI grew its holdings in shares of Norfolk Southern by 165.1% during the fourth quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock worth $121,000 after purchasing an additional 520 shares during the last quarter. Welch Investments LLC purchased a new position in shares of Norfolk Southern during the fourth quarter worth about $156,000. Advantage Investment Management LLC grew its holdings in shares of Norfolk Southern by 43.6% during the third quarter. Advantage Investment Management LLC now owns 1,363 shares of the railroad operator’s stock worth $180,000 after purchasing an additional 414 shares during the last quarter. Finally, Calton & Associates Inc. purchased a new position in shares of Norfolk Southern during the fourth quarter worth about $191,000. 73.77% of the stock is currently owned by hedge funds and other institutional investors.
Norfolk Southern Corp. (NSC) opened at $138.66 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. Norfolk Southern Corp. has a twelve month low of $109.27 and a twelve month high of $157.15. The stock has a market capitalization of $39,381.89, a PE ratio of 20.92, a P/E/G ratio of 1.37 and a beta of 1.32.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 2nd will be issued a dividend of $0.72 per share. The ex-dividend date is Thursday, February 1st. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.08%. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s dividend payout ratio (DPR) is currently 15.38%.
NSC has been the topic of several research reports. Royal Bank of Canada raised Norfolk Southern from an “underperform” rating to a “sector perform” rating in a report on Wednesday, January 24th. Credit Suisse Group raised their price objective on Norfolk Southern from $177.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. BMO Capital Markets reaffirmed a “hold” rating and set a $156.00 price objective on shares of Norfolk Southern in a report on Monday, January 8th. Loop Capital raised their price objective on Norfolk Southern to $144.00 and gave the stock a “sell” rating in a report on Friday, January 12th. Finally, JPMorgan Chase & Co. dropped their price objective on Norfolk Southern from $154.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Norfolk Southern has an average rating of “Hold” and a consensus target price of $140.75.
In related news, COO Michael Joseph Wheeler sold 1,699 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $143.62, for a total value of $244,010.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas E. Hurlbut sold 467 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $150.17, for a total transaction of $70,129.39. Following the completion of the sale, the vice president now owns 5,000 shares of the company’s stock, valued at approximately $750,850. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,166 shares of company stock worth $1,958,040. Corporate insiders own 0.36% of the company’s stock.
Norfolk Southern Company Profile
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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