Crossmark Global Holdings Inc. purchased a new stake in shares of Norfolk Souther Corporation (NYSE:NSC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 28,084 shares of the railroad operator’s stock, valued at approximately $3,714,000.

A number of other large investors have also bought and sold shares of NSC. D Orazio & Associates Inc. raised its holdings 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 valued at $100,000 after acquiring an additional 4 shares during the period. Harbour Capital Advisors LLC raised its holdings in Norfolk Souther Corporation by 12,069.6% during the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock valued at $102,000 after acquiring an additional 12,311 shares during the period. Krilogy Financial LLC raised its holdings in Norfolk Souther Corporation by 2.6% during the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after acquiring an additional 22 shares during the period. AlphaMark Advisors LLC raised its holdings in Norfolk Souther Corporation by 20.7% during 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 during the period. Finally, Parallel Advisors LLC raised its holdings in Norfolk Souther Corporation by 29.2% during 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 during the period. 70.55% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly 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. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis.

Norfolk Souther Corporation announced that its board has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the railroad operator to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 3rd will be paid a $0.61 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $2.44 annualized dividend and a dividend yield of 1.85%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 38.36%.

A number of research firms have commented on NSC. Argus raised their price target on Norfolk Souther Corporation from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley reissued an “underweight” rating and set a $75.00 price target (down from $77.00) on shares of Norfolk Souther Corporation in a report on Monday, October 2nd. Wells Fargo & Company cut Norfolk Souther Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. ValuEngine cut Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Citigroup Inc. raised their price target on Norfolk Souther Corporation from $124.00 to $135.00 and gave the company a “neutral” rating in a report on Wednesday, October 4th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $127.26.

In other news, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the sale, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $281,271.60. Following the completion of the sale, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. In the last three months, insiders sold 30,645 shares of company stock valued at $3,719,075. Corporate insiders own 0.36% of the company’s stock.

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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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