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Dowling & Yahnke LLC Has $387,000 Position in Norfolk Southern Corp. (NSC)
Dowling & Yahnke LLC cut its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 10.2% in the first quarter, HoldingsChannel.com reports. The firm owned 2,071 shares of the railroad operator's stock after selling 235 shares during the quarter. Dowling & Yahnke LLC's holdings in Norfolk Southern were worth $387,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in NSC. Renaissance Group LLC grew its stake in Norfolk Southern by 14.8% in the first quarter. Renaissance Group LLC now owns 154,776 shares of the railroad operator's stock valued at $28,926,000 after acquiring an additional 19,927 shares during the period. Cullen Frost Bankers Inc. grew its stake in Norfolk Southern by 2.7% in the first quarter. Cullen Frost Bankers Inc. now owns 29,683 shares of the railroad operator's stock valued at $5,547,000 after acquiring an additional 768 shares during the period. Janney Montgomery Scott LLC grew its stake in Norfolk Southern by 15.4% in the first quarter. Janney Montgomery Scott LLC now owns 64,321 shares of the railroad operator's stock valued at $12,021,000 after acquiring an additional 8,570 shares during the period. Tower Bridge Advisors grew its stake in Norfolk Southern by 0.9% in the first quarter. Tower Bridge Advisors now owns 10,946 shares of the railroad operator's stock valued at $2,046,000 after acquiring an additional 100 shares during the period. Finally, Osborn Williams & Donohoe LLC acquired a new position in Norfolk Southern in the first quarter valued at about $598,000. 74.67% of the stock is owned by institutional investors and hedge funds.
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NSC stock opened at $205.06 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.69. The stock has a market cap of $54.54 billion, a PE ratio of 21.56, a PEG ratio of 1.59 and a beta of 1.44. Norfolk Southern Corp. has a fifty-two week low of $138.65 and a fifty-two week high of $211.46.
Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.34. The company had revenue of $2.84 billion during 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%. Norfolk Southern's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Corp. will post 10.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.44 annualized dividend and a dividend yield of 1.68%. Norfolk Southern's dividend payout ratio is currently 36.17%.
NSC has been the subject of a number of research analyst reports. TD Securities boosted their target price on Norfolk Southern from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, February 12th. Citigroup boosted their target price on Norfolk Southern from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, April 4th. Credit Suisse Group decreased their target price on Norfolk Southern from $187.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, January 7th. Morgan Stanley boosted their target price on Norfolk Southern from $133.00 to $138.00 and gave the company an "underweight" rating in a research note on Monday, April 29th. Finally, Cowen reissued an "outperform" rating and issued a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company's stock. Norfolk Southern has a consensus rating of "Hold" and an average target price of $200.06.
In other news, COO Michael Joseph Wheeler sold 4,761 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer now directly owns 19,724 shares of the company's stock, valued at $3,554,856.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jason Andrew Zampi sold 519 shares of the company's stock in a transaction dated 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. 0.19% of the stock is owned by corporate insiders.
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Norfolk Southern 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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