Trustmark National Bank Trust Department cut its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,397 shares of the railroad operator’s stock after selling 35 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Norfolk Souther Corporation were worth $413,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC grew its position in Norfolk Souther Corporation by 20.7% during the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after buying an additional 150 shares in the last quarter. D Orazio & Associates Inc. grew its position in Norfolk Souther Corporation by 0.5% during the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after buying an additional 4 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Norfolk Souther Corporation by 35.3% during the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after buying an additional 250 shares in the last quarter. Parallel Advisors LLC grew its position in Norfolk Souther Corporation by 29.2% during the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after buying an additional 220 shares in the last quarter. Finally, North Star Investment Management Corp. grew its position in Norfolk Souther Corporation by 5.0% during the second quarter. North Star Investment Management Corp. now owns 1,050 shares of the railroad operator’s stock worth $128,000 after buying an additional 50 shares in the last quarter. 70.60% of the stock is currently owned by institutional investors and hedge funds.
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In related news, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $118.68, for a total value of $281,271.60. Following the completion of the transaction, the chief operating officer now owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the chairman now directly owns 76,481 shares of the company’s stock, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. In the last three months, insiders sold 27,077 shares of company stock valued at $3,244,531. 0.36% of the stock is owned by insiders.
Norfolk Souther Corporation (NYSE:NSC) opened at 130.46 on Friday. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $133.81. The stock has a 50 day moving average of $125.70 and a 200-day moving average of $119.47. The company has a market cap of $37.60 billion, a PE ratio of 21.20 and a beta of 1.38.
Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates 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 quarter last year, the business posted $1.36 EPS. On average, equities research analysts predict that Norfolk Souther Corporation will post $6.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 7th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 1.87%. Norfolk Souther Corporation’s dividend payout ratio is 39.61%.
Norfolk Souther Corporation declared that its Board of Directors has approved a stock buyback plan on Tuesday, September 26th that authorizes the company to repurchase 50,000,000 shares. This repurchase authorization authorizes the railroad operator to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts recently weighed in on the company. Citigroup Inc. lifted their target price on Norfolk Souther Corporation from $124.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday. ValuEngine downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Morgan Stanley reissued an “underweight” rating and set a $75.00 target price (down from $77.00) on shares of Norfolk Souther Corporation in a research report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and set a $124.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, September 12th. Finally, Royal Bank Of Canada reissued a “sell” rating and set a $117.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $112.56.
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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