Norfolk Souther Corporation (NSC) Holdings Lifted by Commonwealth Equity Services Inc

Commonwealth Equity Services Inc grew its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 86,027 shares of the railroad operator’s stock after purchasing an additional 682 shares during the quarter. Commonwealth Equity Services Inc’s holdings in Norfolk Souther Corporation were worth $11,376,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. D Orazio & Associates Inc. lifted its stake in shares of Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after purchasing an additional 4 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Norfolk Souther Corporation by 12,069.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after purchasing an additional 12,311 shares during the period. Krilogy Financial LLC lifted its stake in shares of Norfolk Souther Corporation by 2.6% during the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after purchasing an additional 22 shares during the period. AlphaMark Advisors LLC lifted its stake in shares of Norfolk Souther Corporation by 20.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 150 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Norfolk Souther Corporation by 29.2% during the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after purchasing an additional 220 shares during the period. 70.88% of the stock is currently owned by institutional investors.

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A number of brokerages have weighed in on NSC. Argus increased their price target on Norfolk Souther Corporation from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Morgan Stanley reaffirmed an “underweight” rating and issued a $75.00 target price (down from $77.00) on shares of Norfolk Souther Corporation in a research report on Monday, October 2nd. Wells Fargo & Company lowered Norfolk Souther Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. ValuEngine lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Citigroup Inc. increased 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, October 4th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company. Norfolk Souther Corporation has a consensus rating of “Hold” and a consensus price target of $127.62.

Shares of Norfolk Souther Corporation (NYSE NSC) traded down $1.63 during trading on Friday, hitting $127.59. The stock had a trading volume of 476,250 shares, compared to its average volume of 1,774,251. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $36,174.93, a P/E ratio of 19.88, a PEG ratio of 1.63 and a beta of 1.37. Norfolk Souther Corporation has a 12 month low of $102.59 and a 12 month high of $134.52.

Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.65 billion. Norfolk Souther Corporation had a return on equity of 14.72% and a net margin of 17.86%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.55 earnings per share. sell-side analysts expect that Norfolk Souther Corporation will post 6.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 3rd will be paid a dividend of $0.61 per share. The ex-dividend date is Thursday, November 2nd. This represents a $2.44 annualized dividend and a dividend yield of 1.91%. Norfolk Souther Corporation’s dividend payout ratio is presently 38.36%.

Norfolk Souther Corporation declared that its board has approved a share buyback program on Tuesday, September 26th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the railroad operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

In related news, COO Michael Joseph Wheeler sold 2,370 shares of Norfolk Souther Corporation stock in a transaction dated Friday, August 25th. The stock was 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 directly owns 13,492 shares in the company, valued at $1,601,230.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at $475,200. The disclosure for this sale can be found here. Insiders have sold 6,238 shares of company stock valued at $791,456 over the last 90 days. 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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Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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