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Gateway Investment Advisers LLC has reduced its interest in Norfolk Southern Corp. shares. (NYSE: NSC) 2.8% in the second quarter, according to The company held 65,583 shares of the rail operator after selling 1,915 shares in the quarter 2004. The holdings of Gateway Investment Advisers LLC in Norfolk Southern rose to $ 9,895,000 at the end of the last quarter. 19659002] Several other institutional investors and hedge funds recently changed their holdings Jefferies Group LLC bought a new position in Norfolk Southern in the fourth quarter valued at approximately $ 818,000 Franklin Resources Inc. raised its holdings in Norfolk Southern from 1 , 2% Franklin Resources Inc. now owns 252,505 shares of the Railway Undertaking for $ 36,588,000 after purchasing 3,078 hares in the last quarter. Guggenheim Capital LLC lifted its stake in Norfolk Southern by 7.9% in the fourth quarter. Guggenheim Capital LLC now holds 328,467 shares of the rail operator worth $ 47,597,000 after purchasing 24,082 additional shares during the last quarter. Paloma Partners Management Co raised its holdings in Norfolk Southern by 326.6% in the fourth quarter. Paloma Partners Management Co now holds 6,826 shares of the rail operator worth $ 989,000 after purchasing an additional 5,226 shares during the last quarter. Lastly, TIAA CREF Investment Management LLC raised its holdings in Norfolk Southern by 0.3% in the fourth quarter. TIAA CREF Investment Management LLC now holds 759,130 shares of the rail operator worth $ 109,998,000 after purchasing 2,355 additional shares during the last quarter. 72.65% of the shares are held by hedge funds and other institutional investors.
A number of analysts have recently weighed on NSC stocks. Royal Bank of Canada reiterated a "hold" rating and set a target price of $ 145.00 on Norfolk Southern shares in a research report on Tuesday, April 10. TD Securities raised its price target on Norfolk Southern from $ 155.00 to $ 160.00 and assigned a "sustaining" rating to the stock in a research report on Thursday, April 26th. Credit Suisse Group increased its target price on Norfolk Southern from $ 155.00 to $ 165.00 and awarded the stock an "outperformance" rating in a research report on Thursday, April 26th. Cowen reiterated a "buy" note and set a target price of $ 167.00 on Norfolk Southern shares in a research report on Wednesday, April 25. Finally, Morgan Stanley increased its price target on Norfolk Southern from $ 100.00 to $ 103.00 and gave an underweight rating to its stock in a research report on Thursday, April 26th. Two analysts evaluated the stock with a sales note, thirteen assigned a reserve rating and nine issued a purchase note to the company's stock. The company currently has an average rating of "Hold" and a consensus target price of $ 153.30.
Norfolk Southern shares fell $ 1.33, to $ 168.24, during the day on Friday, reports MarketBeat.com. 1,863,182 shares were exchanged, compared with an average volume of 1,749,835 shares. The stock has a market capitalization of $ 47.11 billion, a venture capital ratio of 21.38, a price / earnings ratio of 1.59 and a beta of 1.31. The company has a debt ratio of 0.55, a ratio of 0.94 and a ratio of 0.81. Norfolk Southern Corp. has a twelve-month low of $ 111.44 and a twelve-month high of $ 172.81.
Norfolk Southern (NYSE: NSC) last released its quarterly earnings data on Wednesday, July 25. The railway operator reported earnings per share of $ 2.50 for the quarter, surpassing the consensus estimate of $ 2.31 per $ 0.19. The company achieved a turnover of $ 2.90 billion during the quarter, compared with $ 2.87 billion for analysts. Norfolk Southern recorded a return on equity of 14.53% and a net margin of 52.36%. The company's sales figure is up 9.9% over the same quarter of last year. During the same period last year, the company posted earnings per share of $ 1.71. Equity research analysts predict that Norfolk Southern Corp. will post 8.92 earnings per share for the current year.
The company has also recently unveiled a quarterly dividend that will be paid on Monday, September 10th. Shareholders of record on Monday, August 6 will receive a dividend of $ 0.80 per share. The ex-dividend date is Friday, August 3rd. This is a positive change from Norfolk Southern's previous quarterly dividend of $ 0.72. This represents an annualized dividend of $ 3.20 and a dividend yield of 1.90%. The dividend payout ratio (DPR) of Norfolk Southern is currently 43.57%.
In addition, Cynthia C. Earhart, Chief Financial Officer, sold 6,588 shares of the company in connection with a transaction on Thursday, May 10. The stock was sold at an average price of $ 150.93, for a total transaction of $ 994,326.84. As a result of the sale, the CFO directly holds 6,588 shares of the Company, valued at approximately $ 994,326.84. The transaction was disclosed in a SEC filing which is accessible via this hyperlink. In addition, the chief operating officer, Michael Joseph Wheeler, sold 2,000 shares of the fund in a transaction on Wednesday, May 16. The stock was sold at an average price of $ 151.33, for a total value of $ 302,660.00. As a result of the sale, the Chief Operating Officer now directly owns 10,207 shares of the Company, valued at $ 1,544,625.31. The disclosure for this sale can be found here. In the last three months, insiders sold 11,348 shares valued at $ 1,716,507. Corporate insiders own 0.36% of the company's shares.
Company Profile Norfolk Southern
Norfolk Southern Corporation, with its subsidiaries, engages in rail transportation of raw materials, intermediate products and finished products. It also carries cargo overseas through various ports in the Atlantic and Gulf Coast, as well as coal products, automotive and industry;
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