Mackay Shields LLC Has $10.40 Million Stake in Norfolk Southern Corp. (NSC)

Mackay Shields LLC increased its position in Norfolk Southern Corp. (NYSE:NSC) by 31.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,557 shares of the railroad operator’s stock after acquiring an additional 16,514 shares during the quarter. Mackay Shields LLC’s holdings in Norfolk Southern were worth $10,402,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Resources Management Corp CT ADV bought a new stake in Norfolk Southern during the third quarter valued at approximately $733,000. Curbstone Financial Management Corp lifted its position in Norfolk Southern by 16.1% during the fourth quarter. Curbstone Financial Management Corp now owns 3,250 shares of the railroad operator’s stock valued at $490,000 after purchasing an additional 450 shares during the last quarter. Virtu Financial LLC lifted its position in Norfolk Southern by 57.6% during the third quarter. Virtu Financial LLC now owns 10,153 shares of the railroad operator’s stock valued at $1,832,000 after purchasing an additional 3,712 shares during the last quarter. Arlington Partners LLC bought a new stake in Norfolk Southern during the fourth quarter valued at approximately $37,000. Finally, Fosun International Ltd bought a new stake in Norfolk Southern during the fourth quarter valued at approximately $238,000. Institutional investors own 73.37% of the company’s stock.

NSC stock opened at $179.52 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.64 and a debt-to-equity ratio of 0.69. Norfolk Southern Corp. has a one year low of $127.79 and a one year high of $186.91. The company has a market cap of $47.97 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.52 and a beta of 1.43.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, January 24th. The railroad operator reported $2.57 EPS for the quarter, topping the consensus estimate of $2.30 by $0.27. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the firm earned $1.69 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts anticipate that Norfolk Southern Corp. will post 10.44 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 4th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.92%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 1st. Norfolk Southern’s payout ratio is presently 36.17%.

In related news, COO Michael Joseph Wheeler sold 4,761 shares of Norfolk Southern stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $180.23, for a total value of $858,075.03. Following the transaction, the chief operating officer now directly owns 19,724 shares of the company’s stock, valued at $3,554,856.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jason Andrew Zampi sold 519 shares of Norfolk Southern stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $181.34, for a total transaction of $94,115.46. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Several brokerages have issued reports on NSC. Royal Bank of Canada lowered shares of Norfolk Southern from a “sector perform” rating to an “underperform” rating and dropped their target price for the company from $180.00 to $178.00 in a research report on Tuesday, February 19th. TD Securities lifted their target price on shares of Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 12th. ValuEngine lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Loop Capital lifted their price target on shares of Norfolk Southern to $210.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. Finally, UBS Group lifted their price target on shares of Norfolk Southern from $190.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Norfolk Southern presently has an average rating of “Hold” and an average price target of $185.37.

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About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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