Montag A & Associates Inc. maintained its position in shares of Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,190 shares of the railroad operator’s stock at the end of the first quarter. Montag A & Associates Inc.’s holdings in Norfolk Souther Corporation were worth $805,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Bain Capital Public Equity Management LLC bought a new position in Norfolk Souther Corporation during the fourth quarter valued at about $9,986,000. Luminus Management LLC bought a new position in shares of Norfolk Souther Corporation during the fourth quarter worth about $123,732,000. KCM Investment Advisors LLC boosted its stake in Norfolk Souther Corporation by 14.4% in the third quarter. KCM Investment Advisors LLC now owns 4,857 shares of the railroad operator’s stock worth $471,000 after buying an additional 612 shares during the period. First Manhattan Co. boosted its stake in Norfolk Souther Corporation by 16.6% in the first quarter. First Manhattan Co. now owns 12,984 shares of the railroad operator’s stock worth $1,260,000 after buying an additional 1,848 shares during the period. Finally, USA Financial Portformulas Corp acquired a new stake in Norfolk Souther Corporation during the fourth quarter worth approximately $3,171,000. Hedge funds and other institutional investors own 70.18% of the company’s stock.
Norfolk Souther Corporation (NSC) traded up 0.82% during midday trading on Monday, reaching $120.12. The company’s stock had a trading volume of 1,065,565 shares. The stock’s 50-day moving average price is $118.31 and its 200-day moving average price is $115.55. Norfolk Souther Corporation has a 12 month low of $78.73 and a 12 month high of $125.31. The firm has a market capitalization of $34.81 billion, a price-to-earnings ratio of 20.66 and a beta of 1.37.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 26th. The railroad operator reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. Norfolk Souther Corporation had a net margin of 17.07% and a return on equity of 13.82%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the business posted $1.29 earnings per share. Norfolk Souther Corporation’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts predict that Norfolk Souther Corporation will post $6.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, June 10th. Shareholders of record on Friday, May 5th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Wednesday, May 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 42.00%.
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NSC has been the subject of several research reports. Credit Suisse Group reiterated an “outperform” rating and set a $136.00 price target (up from $128.00) on shares of Norfolk Souther Corporation in a research report on Monday, March 6th. Wells Fargo & Company began coverage on Norfolk Souther Corporation in a report on Monday, March 13th. They issued an “outperform” rating for the company. Royal Bank Of Canada cut Norfolk Souther Corporation from a “sector perform” rating to an “underperform” rating and set a $113.00 target price for the company. in a report on Thursday, March 23rd. They noted that the move was a valuation call. Loop Capital reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research note on Saturday, March 25th. Finally, TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $108.31.
In other news, VP Thomas E. Hurlbut sold 802 shares of Norfolk Souther Corporation stock in a transaction 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 transaction, the vice president now directly owns 4,300 shares of the company’s stock, valued at $501,122. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 571 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $117.66, for a total transaction of $67,183.86. Following the completion of the sale, the vice president now directly owns 6,529 shares in the company, valued at $768,202.14. The disclosure for this sale can be found here. Insiders have sold a total of 2,800 shares of company stock valued at $327,494 in the last ninety days. Company 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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