Norfolk Southern Corp. (NSC) Stake Held by Gulf International Bank UK Ltd
Gulf International Bank UK Ltd continued to hold its position in shares of Norfolk Southern Corp. (NYSE:NSC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,591 shares of the railroad operator’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in Norfolk Southern Corp. were worth $8,695,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Euclid Advisors LLC bought a new stake in Norfolk Southern Corp. during the first quarter valued at $1,297,000. BNP Paribas Arbitrage SA raised its stake in Norfolk Southern Corp. by 15.4% in the second quarter. BNP Paribas Arbitrage SA now owns 78,636 shares of the railroad operator’s stock valued at $6,694,000 after buying an additional 10,505 shares in the last quarter. M. Kraus & Co raised its stake in Norfolk Southern Corp. by 3.0% in the second quarter. M. Kraus & Co now owns 53,903 shares of the railroad operator’s stock valued at $4,589,000 after buying an additional 1,551 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Norfolk Southern Corp. by 8.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,978 shares of the railroad operator’s stock valued at $168,000 after buying an additional 160 shares in the last quarter. Finally, First PREMIER Bank raised its stake in Norfolk Southern Corp. by 17.3% in the second quarter. First PREMIER Bank now owns 2,269 shares of the railroad operator’s stock valued at $194,000 after buying an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.
Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 0.39% during trading on Tuesday, hitting $104.40. The stock had a trading volume of 1,316,877 shares. The company has a market capitalization of $30.48 billion, a P/E ratio of 19.33 and a beta of 1.13. The firm has a 50-day moving average of $97.01 and a 200 day moving average of $91.07. Norfolk Southern Corp. has a 1-year low of $64.51 and a 1-year high of $105.50.
Norfolk Southern Corp. (NYSE:NSC) last released its earnings results on Wednesday, October 26th. The railroad operator reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.25 billion. Norfolk Southern Corp. had a net margin of 16.27% and a return on equity of 13.15%. Norfolk Southern Corp.’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 earnings per share. Equities research analysts predict that Norfolk Southern Corp. will post $5.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Friday, November 4th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $2.36 annualized dividend and a yield of 2.27%. Norfolk Southern Corp.’s payout ratio is 43.70%.
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NSC has been the topic of several analyst reports. Argus reiterated a “buy” rating on shares of Norfolk Southern Corp. in a research note on Wednesday, August 3rd. Atlantic Securities initiated coverage on Norfolk Southern Corp. in a research note on Thursday, August 11th. They issued a “neutral” rating and a $104.00 price objective on the stock. Loop Capital reiterated a “hold” rating on shares of Norfolk Southern Corp. in a research note on Friday, September 9th. Barclays PLC lowered their price objective on Norfolk Southern Corp. from $104.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Finally, Citigroup Inc. upped their price objective on Norfolk Southern Corp. from $87.00 to $97.00 and gave the company a “neutral” rating in a research note on Tuesday, September 13th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $92.65.
In related news, VP Thomas E. Hurlbut sold 2,170 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $91.21, for a total value of $197,925.70. Following the transaction, the vice president now owns 8,560 shares in the company, valued at $780,757.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas E. Hurlbut sold 469 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $103.77, for a total transaction of $48,668.13. Following the completion of the transaction, the vice president now owns 7,041 shares in the company, valued at approximately $730,644.57. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
Norfolk Southern Corp. Company Profile
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 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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