Edgemoor Investment Advisors Inc. Has $420,000 Holdings in Norfolk Souther Corporation (NSC)

Edgemoor Investment Advisors Inc. held its stake in Norfolk Souther Corporation (NYSE:NSC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,448 shares of the railroad operator’s stock at the end of the second quarter. Edgemoor Investment Advisors Inc.’s holdings in Norfolk Souther Corporation were worth $420,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. D Orazio & Associates Inc. grew its stake in Norfolk Souther Corporation by 0.5% in the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after purchasing an additional 4 shares during the period. MCF Advisors LLC grew its stake in Norfolk Souther Corporation by 31.4% in the 1st quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock valued at $106,000 after purchasing an additional 227 shares during the period. Parkside Financial Bank & Trust grew its stake in Norfolk Souther Corporation by 35.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock valued at $107,000 after purchasing an additional 250 shares during the period. Parallel Advisors LLC grew its stake in Norfolk Souther Corporation by 29.2% in the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after purchasing an additional 220 shares during the period. Finally, North Star Investment Management Corp. grew its stake in Norfolk Souther Corporation by 5.0% in the 2nd quarter. North Star Investment Management Corp. now owns 1,050 shares of the railroad operator’s stock valued at $128,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 70.64% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE NSC) opened at 128.04 on Friday. The firm has a 50 day moving average price of $119.36 and a 200 day moving average price of $118.26. The stock has a market cap of $36.90 billion, a PE ratio of 20.81 and a beta of 1.32. Norfolk Souther Corporation has a 12-month low of $89.95 and a 12-month high of $128.09.

Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 7th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.

A number of brokerages have issued reports on NSC. Cowen and Company restated an “outperform” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $124.00 price target (up previously from $122.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Zacks Investment Research downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Deutsche Bank AG downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating and cut their price target for the stock from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $139.00 price target (up previously from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 13th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $115.00.

In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $475,200. The disclosure for this sale can be found here. Insiders have sold 27,077 shares of company stock valued at $3,244,531 in the last three months. 0.36% of the stock is currently owned by corporate insiders.

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Norfolk Souther Corporation 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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Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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