Hartland & Co. LLC decreased its stake in Norfolk Souther Corporation (NYSE:NSC) by 28.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,281 shares of the railroad operator’s stock after selling 1,665 shares during the period. Hartland & Co. LLC’s holdings in Norfolk Souther Corporation were worth $480,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock valued at $471,313,000 after buying an additional 1,016,319 shares during the period. Investec Asset Management LTD purchased a new stake in Norfolk Souther Corporation during the first quarter valued at $92,710,000. Ameriprise Financial Inc. raised its stake in Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock valued at $208,626,000 after buying an additional 492,922 shares during the period. Finally, American Century Companies Inc. raised its stake in Norfolk Souther Corporation by 34.7% in the first quarter. American Century Companies Inc. now owns 1,459,919 shares of the railroad operator’s stock valued at $163,467,000 after buying an additional 375,745 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.
Shares of Norfolk Souther Corporation (NYSE NSC) traded up 0.32% during trading on Wednesday, reaching $120.43. The company had a trading volume of 1,180,341 shares. The firm has a 50 day moving average price of $118.80 and a 200 day moving average price of $118.13. The company has a market cap of $34.71 billion, a price-to-earnings ratio of 19.57 and a beta of 1.33. Norfolk Souther Corporation has a 12 month low of $88.62 and a 12 month high of $125.31.
Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping the 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 net margin of 17.66% and a return on equity of 14.45%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. Analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s payout ratio is 39.61%.
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A number of research firms recently commented on NSC. UBS AG reaffirmed a “buy” rating and set a $133.00 price objective on shares of Norfolk Souther Corporation in a research note on Monday. BidaskClub upgraded Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Monday, August 7th. Cowen and Company reiterated an “outperform” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Finally, Deutsche Bank AG lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating and lowered their price objective for the company from $132.00 to $104.00 in a research note on Monday, July 31st. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. Norfolk Souther Corporation presently has an average rating of “Hold” and an average target price of $112.35.
In other news, VP Thomas E. Hurlbut sold 802 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the completion of the transaction, the vice president now directly owns 4,300 shares of the company’s stock, valued at approximately $501,122. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the transaction, the chairman now directly owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
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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