Norfolk Souther Corporation (NSC) Stake Raised by Personal Capital Advisors Corp
Personal Capital Advisors Corp increased its stake in Norfolk Souther Corporation (NYSE:NSC) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,106 shares of the railroad operator’s stock after buying an additional 11,062 shares during the period. Personal Capital Advisors Corp’s holdings in Norfolk Souther Corporation were worth $23,988,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. Macquarie Group Ltd. raised its position in Norfolk Souther Corporation by 22.5% in the fourth quarter. Macquarie Group Ltd. now owns 60,300 shares of the railroad operator’s stock valued at $6,517,000 after buying an additional 11,060 shares in the last quarter. Atria Investments LLC raised its position in Norfolk Souther Corporation by 3.7% in the first quarter. Atria Investments LLC now owns 2,431 shares of the railroad operator’s stock valued at $272,000 after buying an additional 87 shares in the last quarter. Skylands Capital LLC raised its position in Norfolk Souther Corporation by 5.4% in the first quarter. Skylands Capital LLC now owns 115,225 shares of the railroad operator’s stock valued at $12,902,000 after buying an additional 5,925 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Norfolk Souther Corporation during the first quarter valued at about $784,000. Finally, Berkshire Asset Management LLC PA raised its position in Norfolk Souther Corporation by 4.7% in the first quarter. Berkshire Asset Management LLC PA now owns 91,187 shares of the railroad operator’s stock valued at $10,210,000 after buying an additional 4,071 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.
Shares of Norfolk Souther Corporation (NSC) traded up 0.21% during trading on Tuesday, reaching $119.80. The company’s stock had a trading volume of 654,503 shares. The firm has a market cap of $34.52 billion, a PE ratio of 19.47 and a beta of 1.33. The company’s 50 day moving average price is $118.79 and its 200 day moving average price is $118.14. Norfolk Souther Corporation has a 12 month low of $87.97 and a 12 month high of $125.31.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. On average, equities analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders 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 annualized dividend and a dividend yield of 2.04%. Norfolk Souther Corporation’s payout ratio is 39.61%.
NSC has been the subject of several recent analyst reports. TD Securities reiterated a “hold” rating on shares of Norfolk Souther Corporation in a research note on Thursday, April 27th. Deutsche Bank AG raised their target price on Norfolk Souther Corporation from $126.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, April 28th. UBS AG restated a “buy” rating and issued a $138.00 target price (up from $135.00) on shares of Norfolk Souther Corporation in a research note on Friday, April 28th. Stifel Nicolaus raised their target price 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. Finally, Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Wednesday, May 3rd. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $112.35.
In other news, VP Thomas E. Hurlbut sold 802 shares of the 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 sale, the vice president now owns 4,300 shares of the company’s stock, valued at $501,122. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.36% of the company’s stock.
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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