Insider Selling: Norfolk Souther Corporation (NSC) COO Sells 2,370 Shares of Stock
Norfolk Souther Corporation (NYSE:NSC) 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 transaction, the chief operating officer now directly owns 13,492 shares in the company, valued at $1,601,230.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Norfolk Souther Corporation (NSC) traded down 0.47% on Monday, reaching $117.66. The company had a trading volume of 599,184 shares. Norfolk Souther Corporation has a one year low of $89.92 and a one year high of $125.31. The company’s 50 day moving average is $118.32 and its 200-day moving average is $118.11. The firm has a market capitalization of $33.91 billion, a price-to-earnings ratio of 19.12 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the firm earned $1.36 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.61 per share. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.06%. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
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Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in Norfolk Souther Corporation during the first quarter worth about $168,000. Candriam Luxembourg S.C.A. increased its position in Norfolk Souther Corporation by 24.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 23,035 shares of the railroad operator’s stock worth $2,579,000 after buying an additional 4,521 shares in the last quarter. CAPROCK Group Inc. increased its position in Norfolk Souther Corporation by 4.8% in the first quarter. CAPROCK Group Inc. now owns 4,428 shares of the railroad operator’s stock worth $496,000 after buying an additional 204 shares in the last quarter. Nicolet Bankshares Inc. increased its position in Norfolk Souther Corporation by 21.2% in the first quarter. Nicolet Bankshares Inc. now owns 2,895 shares of the railroad operator’s stock worth $314,000 after buying an additional 507 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in Norfolk Souther Corporation by 1.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,786 shares of the railroad operator’s stock worth $815,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 70.63% of the company’s stock.
Several research analysts have commented on NSC shares. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a report on Tuesday, June 27th. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Cowen and Company reaffirmed a “buy” rating and set a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Scotiabank downgraded Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Finally, Stifel Nicolaus lifted their target price on Norfolk Souther Corporation from $114.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $112.35.
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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