D.A. Davidson & CO. decreased its position in Norfolk Souther Corporation (NYSE:NSC) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,626 shares of the railroad operator’s stock after selling 189 shares during the quarter. D.A. Davidson & CO.’s holdings in Norfolk Souther Corporation were worth $2,510,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. AlphaMark Advisors LLC raised its holdings in Norfolk Souther Corporation by 20.7% in the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after acquiring an additional 150 shares in the last quarter. D Orazio & Associates Inc. raised its holdings in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after acquiring an additional 4 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Norfolk Souther Corporation by 35.3% in the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock valued at $107,000 after acquiring an additional 250 shares in the last quarter. Parallel Advisors LLC raised its holdings in Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after acquiring an additional 220 shares in the last quarter. Finally, North Star Investment Management Corp. raised its holdings in Norfolk Souther Corporation by 5.0% in the second quarter. North Star Investment Management Corp. now owns 1,050 shares of the railroad operator’s stock valued at $128,000 after acquiring an additional 50 shares in the last quarter. 70.60% of the stock is currently owned by hedge funds and other institutional investors.
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In other Norfolk Souther Corporation news, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $118.68, for a total value of $281,271.60. Following the sale, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at $1,601,230.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman James A. Squires sold 24,407 shares of the stock in a transaction 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 sale, 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. Insiders sold 27,077 shares of company stock worth $3,244,531 over the last ninety days. 0.36% of the stock is owned by corporate insiders.
Several analysts recently weighed in on the stock. Wolfe Research raised shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Monday, August 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $75.00 target price (down previously from $77.00) on shares of Norfolk Souther Corporation in a report on Monday, October 2nd. ValuEngine cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub cut shares of Norfolk Souther Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, Cowen and Company reissued an “outperform” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $112.56.
Norfolk Souther Corporation (NSC) opened at 130.46 on Friday. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $133.81. The company has a 50-day moving average of $125.70 and a 200-day moving average of $119.47. The stock has a market capitalization of $37.60 billion, a price-to-earnings ratio of 21.20 and a beta of 1.38.
Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping 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 firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts expect that Norfolk Souther Corporation will post $6.34 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 7th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
Norfolk Souther Corporation declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 26th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the railroad operator to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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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