KCM Investment Advisors LLC Has $471,000 Stake in Norfolk Souther Corporation (NSC)
KCM Investment Advisors LLC reduced its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 17.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,870 shares of the railroad operator’s stock after selling 812 shares during the quarter. KCM Investment Advisors LLC’s holdings in Norfolk Souther Corporation were worth $471,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC grew its holdings 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 in the last quarter. D Orazio & Associates Inc. grew its holdings 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 in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Norfolk Souther Corporation by 35.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after purchasing an additional 250 shares in the last quarter. Parallel Advisors LLC grew its holdings 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 in the last quarter. Finally, North Star Investment Management Corp. grew its holdings in shares of Norfolk Souther Corporation by 5.0% during the 2nd quarter. North Star Investment Management Corp. now owns 1,050 shares of the railroad operator’s stock worth $128,000 after purchasing an additional 50 shares in the last quarter. 70.60% of the stock is currently owned by institutional investors.
Norfolk Souther Corporation (NSC) opened at 130.50 on Thursday. The firm has a 50-day moving average price of $125.02 and a 200 day moving average price of $119.28. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $133.81. The company has a market capitalization of $37.61 billion, a P/E ratio of 21.21 and a beta of 1.38.
Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the business earned $1.36 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts predict that Norfolk Souther Corporation will post $6.33 earnings per share for the current fiscal year.
Norfolk Souther Corporation declared that its board has initiated a share repurchase 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 often a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Thursday, August 3rd. Norfolk Souther Corporation’s payout ratio is currently 39.61%.
Several research firms have recently issued reports on NSC. Cowen and Company reissued an “outperform” rating and set a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and set a $124.00 target price (up from $122.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Zacks Investment Research lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Deutsche Bank AG lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their target price for the stock from $132.00 to $104.00 in a report on Monday, July 31st. Finally, 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 report on Monday. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. Norfolk Souther Corporation presently has an average rating of “Hold” and a consensus price target of $112.56.
In other news, VP Thomas E. Hurlbut sold 300 shares of the company’s 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 directly owns 4,000 shares in the company, valued at approximately $475,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the company’s 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 owns 13,492 shares of the company’s stock, valued at $1,601,230.56. The disclosure for this sale can be found here. Insiders sold a total of 27,077 shares of company stock valued at $3,244,531 over the last quarter. Company insiders own 0.36% of the company’s stock.
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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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