NumerixS Investment Technologies Inc Buys New Position in Norfolk Southern Corp. (NYSE:NSC)
NumerixS Investment Technologies Inc bought a new stake in shares of Norfolk Southern Corp. (NYSE:NSC) in the first quarter, HoldingsChannel.com reports. The firm bought 1,000 shares of the railroad operator’s stock, valued at approximately $186,000.
Other large investors also recently modified their holdings of the company. Family Firm Inc. purchased a new position in shares of Norfolk Southern during the 1st quarter valued at about $218,000. ARP Americas LP acquired a new stake in shares of Norfolk Southern during the 1st quarter valued at about $299,000. BB&T Corp grew its position in shares of Norfolk Southern by 6.0% during the 1st quarter. BB&T Corp now owns 81,679 shares of the railroad operator’s stock valued at $15,265,000 after acquiring an additional 4,639 shares during the period. Sontag Advisory LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at about $80,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Norfolk Southern by 71.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 247,910 shares of the railroad operator’s stock valued at $37,069,000 after acquiring an additional 103,700 shares during the period. 72.84% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on NSC shares. Argus lifted their price objective on Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Morgan Stanley lifted their price objective on Norfolk Southern from $133.00 to $138.00 and gave the stock an “underweight” rating in a report on Monday, April 29th. Cowen reiterated an “outperform” rating and issued a $230.00 price objective (up from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. TD Securities lifted their price objective on Norfolk Southern from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets lifted their price objective on Norfolk Southern from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $203.11.
Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.34. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 EPS. As a group, research analysts expect that Norfolk Southern Corp. will post 10.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 3rd were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 36.17%.
In other news, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael Joseph Wheeler sold 2,500 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $204.57, for a total transaction of $511,425.00. Following the sale, the chief operating officer now directly owns 12,919 shares in the company, valued at approximately $2,642,839.83. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Norfolk Southern Company Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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