Norfolk Souther Corporation (NSC) Shares Sold by Scout Investments Inc.
Scout Investments Inc. lowered its holdings in Norfolk Souther Corporation (NYSE:NSC) by 10.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 181,187 shares of the railroad operator’s stock after selling 21,105 shares during the quarter. Scout Investments Inc. owned 0.06% of Norfolk Souther Corporation worth $22,050,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NSC. BlackRock Inc. grew its holdings in Norfolk Souther Corporation by 3,039.1% in the 1st quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock valued at $2,189,172,000 after buying an additional 18,928,598 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Norfolk Souther Corporation by 936.1% in the 1st quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock valued at $602,226,000 after buying an additional 4,859,355 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Norfolk Souther Corporation by 31.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock valued at $471,313,000 after buying an additional 1,016,319 shares during the last quarter. Investec Asset Management LTD acquired a new stake in Norfolk Souther Corporation in the 1st quarter valued at approximately $92,710,000. Finally, Ameriprise Financial Inc. grew its holdings in Norfolk Souther Corporation by 36.0% in the 1st quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock valued at $208,626,000 after buying an additional 492,922 shares during the last quarter. 70.60% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports 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, September 1st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $139.00 target price (up previously from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 13th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $117.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, August 29th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $115.00.
In related news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the sale, the chairman now owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the sale, the vice president now directly owns 4,000 shares in the company, valued at approximately $475,200. The disclosure for this sale can be found here. Insiders have sold 27,077 shares of company stock worth $3,244,531 in the last three months. 0.36% of the stock is currently owned by company insiders.
Norfolk Souther Corporation (NYSE:NSC) opened at 130.99 on Friday. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $131.15. The company’s 50 day moving average price is $120.17 and its 200 day moving average price is $118.29. The company has a market cap of $37.75 billion, a P/E ratio of 21.29 and a beta of 1.32.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. Equities research analysts anticipate that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 7th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.
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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