Ashford Capital Management Inc. Holds Position in Norfolk Souther Corporation (NSC)
Ashford Capital Management Inc. maintained its stake in Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,876 shares of the railroad operator’s stock at the end of the first quarter. Ashford Capital Management Inc.’s holdings in Norfolk Souther Corporation were worth $770,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in 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 during the period. 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 worth $602,226,000 after buying an additional 4,859,355 shares during the period. 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 worth $471,313,000 after buying an additional 1,016,319 shares during the period. Investec Asset Management LTD acquired a new stake in Norfolk Souther Corporation during the first quarter worth $92,710,000. Finally, Ameriprise Financial Inc. boosted its stake in Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock worth $208,626,000 after buying an additional 492,922 shares during the period. 70.59% of the stock is owned by institutional investors.
Shares of Norfolk Souther Corporation (NYSE NSC) traded down 0.04% on Thursday, hitting $117.41. The company had a trading volume of 356,518 shares. The firm has a market capitalization of $33.84 billion, a price-to-earnings ratio of 19.08 and a beta of 1.33. The company has a 50 day moving average price of $118.86 and a 200 day moving average price of $118.14. Norfolk Souther Corporation has a 1-year low of $87.97 and a 1-year high of $125.31.
Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.45% and a net margin of 17.66%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. On average, equities analysts forecast that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a yield of 2.08%. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.
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A number of 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 price target on the stock in a research note on Tuesday, June 27th. Stifel Nicolaus increased their price target on Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, May 1st. UBS AG restated a “buy” rating and issued a $138.00 price target (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 price target on the stock in a research note on Monday. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $112.17.
In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 1,427 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $116.92, for a total value of $166,844.84. Following the transaction, the vice president now directly owns 5,102 shares in the company, valued at approximately $596,525.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction dated 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 owns 4,300 shares in the company, valued at $501,122. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
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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