Howland Capital Management LLC maintained its position in shares of Norfolk Souther Corporation (NYSE:NSC) during the second quarter, Holdings Channel reports. The firm owned 3,267 shares of the railroad operator’s stock at the end of the second quarter. Howland Capital Management LLC’s holdings in Norfolk Souther Corporation were worth $398,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in NSC. BlackRock Inc. increased its position in shares of Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock worth $2,189,172,000 after buying an additional 18,928,598 shares in the last quarter. State Street Corp boosted its stake in Norfolk Souther Corporation by 2.2% in the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock valued at $1,451,226,000 after buying an additional 281,088 shares during the last quarter. Alliancebernstein L.P. boosted its stake in 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 valued at $602,226,000 after buying an additional 4,859,355 shares during the last quarter. JPMorgan Chase & Co. boosted 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Norfolk Souther Corporation by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,800 shares of the railroad operator’s stock valued at $392,383,000 after buying an additional 30,856 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.
Norfolk Souther Corporation (NYSE:NSC) traded down 1.98% during mid-day trading on Thursday, reaching $118.04. The company’s stock had a trading volume of 543,509 shares. The firm has a 50 day moving average price of $118.84 and a 200-day moving average price of $118.15. Norfolk Souther Corporation has a 1-year low of $89.65 and a 1-year high of $125.31. The company has a market capitalization of $34.02 billion, a PE ratio of 19.18 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the company posted $1.36 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be paid a $0.61 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.03%. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.
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Several research firms recently weighed in on NSC. Scotiabank cut Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research note on Tuesday, June 27th. Stifel Nicolaus boosted their target price on Norfolk Souther Corporation from $114.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, May 1st. UBS AG restated a “buy” rating and set a $138.00 target price (up previously from $135.00) on shares of Norfolk Souther Corporation in a research note on Friday, April 28th. Finally, Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Monday, August 7th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $112.35.
In other news, 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 transaction, the chairman now directly owns 76,481 shares of the company’s stock, valued at approximately $9,173,895.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas E. Hurlbut sold 802 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $116.54, for a total value of $93,465.08. Following the completion of the transaction, the vice president now directly owns 4,300 shares in the company, valued at $501,122. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
About Norfolk Souther Corporation
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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