Public Employees Retirement Association of Colorado Sells 3,320 Shares of Norfolk Souther Corporation (NSC)
Public Employees Retirement Association of Colorado cut its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,616 shares of the railroad operator’s stock after selling 3,320 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Norfolk Souther Corporation were worth $6,826,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of NSC. D Orazio & Associates Inc. grew its position in Norfolk Souther Corporation by 0.5% in 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. Harbour Capital Advisors LLC grew its position in Norfolk Souther Corporation by 12,069.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after purchasing an additional 12,311 shares in the last quarter. Krilogy Financial LLC grew its position in Norfolk Souther Corporation by 2.6% in the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after purchasing an additional 22 shares in the last quarter. AlphaMark Advisors LLC grew its position in Norfolk Souther Corporation by 20.7% in 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. Finally, Parallel Advisors LLC grew its position in Norfolk Souther Corporation by 29.2% in 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. 70.55% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $124.00 price objective (up from $122.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 27th. Wells Fargo & Company downgraded shares of Norfolk Souther Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Zacks Investment Research downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Deutsche Bank AG downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $132.00 to $104.00 in a research report on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $127.26.
In other Norfolk Souther Corporation news, COO Michael Joseph Wheeler sold 3,568 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $133.00, for a total value of $474,544.00. Following the sale, the chief operating officer now directly owns 15,837 shares in the company, valued at approximately $2,106,321. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chairman now owns 76,481 shares in the company, valued at $9,173,895.95. The disclosure for this sale can be found here. Insiders sold a total of 30,645 shares of company stock worth $3,719,075 over the last quarter. Corporate insiders own 0.36% of the company’s stock.
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Shares of Norfolk Souther Corporation (NSC) opened at $130.36 on Friday. Norfolk Souther Corporation has a 52 week low of $91.28 and a 52 week high of $134.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.73 and a current ratio of 0.83. The company has a market cap of $37,302.38, a P/E ratio of 20.50, a P/E/G ratio of 1.68 and a beta of 1.37.
Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the company posted $1.55 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. research analysts predict that Norfolk Souther Corporation will post 6.46 earnings per share for the current fiscal year.
Norfolk Souther Corporation announced that its board has initiated a stock buyback program on Tuesday, September 26th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the railroad operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 3rd will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, November 2nd. Norfolk Souther Corporation’s dividend payout ratio is presently 38.36%.
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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