First Mercantile Trust Co. maintained its stake in shares of Norfolk Souther Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,800 shares of the railroad operator’s stock at the end of the 2nd quarter. First Mercantile Trust Co.’s holdings in Norfolk Souther Corporation were worth $341,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of Norfolk Souther Corporation by 10.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 65,521 shares of the railroad operator’s stock worth $7,977,000 after acquiring an additional 6,366 shares in the last quarter. First Capital Advisors Group LLC. increased its position in shares of Norfolk Souther Corporation by 2.4% during the second quarter. First Capital Advisors Group LLC. now owns 1,871 shares of the railroad operator’s stock worth $228,000 after acquiring an additional 44 shares in the last quarter. National Planning Corp increased its position in shares of Norfolk Souther Corporation by 5.8% during the second quarter. National Planning Corp now owns 3,949 shares of the railroad operator’s stock worth $487,000 after acquiring an additional 217 shares in the last quarter. Cadinha & Co. LLC bought a new stake in shares of Norfolk Souther Corporation during the second quarter worth $204,000. Finally, Schwab Charles Investment Management Inc. grew its position in Norfolk Souther Corporation by 2.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 981,994 shares of the railroad operator’s stock valued at $119,509,000 after purchasing an additional 25,938 shares in the last quarter. 70.60% of the stock is owned by institutional investors.
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NSC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research report on Tuesday, June 27th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Cowen and Company reaffirmed a “buy” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $117.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Finally, Scotiabank downgraded shares of Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, July 6th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. Norfolk Souther Corporation presently has a consensus rating of “Hold” and an average target price of $115.00.
Norfolk Souther Corporation (NSC) opened at 130.99 on Friday. The firm has a market capitalization of $37.75 billion, a PE ratio of 21.29 and a beta of 1.32. The stock has a 50 day moving average of $120.17 and a 200 day moving average of $118.29. Norfolk Souther Corporation has a 12 month low of $89.95 and a 12 month high of $131.15.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. On average, equities analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 7th were issued a $0.61 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a yield of 1.86%. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
In related news, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total value of $2,927,619.65. Following the completion of the transaction, the chairman now directly owns 76,481 shares in the company, valued at $9,173,895.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,077 shares of company stock worth $3,244,531. 0.36% of the stock is owned by insiders.
Norfolk Souther Corporation Company Profile
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 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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