Staton Financial Advisors LLC Decreases Stake in Norfolk Souther Corporation (NSC)
Staton Financial Advisors LLC lowered its stake in Norfolk Souther Corporation (NYSE:NSC) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,837 shares of the railroad operator’s stock after selling 635 shares during the period. Staton Financial Advisors LLC’s holdings in Norfolk Souther Corporation were worth $1,437,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock worth $2,189,172,000 after buying an additional 18,928,598 shares in the last quarter. Alliancebernstein L.P. raised its position in Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. raised its position in Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after buying an additional 1,016,319 shares in the last quarter. Investec Asset Management LTD bought a new position in Norfolk Souther Corporation during the first quarter worth about $92,710,000. Finally, Ameriprise Financial Inc. raised its position in Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock worth $208,626,000 after buying an additional 492,922 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.
Norfolk Souther Corporation (NYSE NSC) traded up 0.08% during mid-day trading on Tuesday, reaching $119.65. 451,768 shares of the company’s stock traded hands. Norfolk Souther Corporation has a 52-week low of $87.97 and a 52-week high of $125.31. The company has a 50-day moving average of $118.79 and a 200-day moving average of $118.14. The company has a market capitalization of $34.48 billion, a price-to-earnings ratio of 19.44 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. Equities research analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be given a $0.61 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.04%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.
A number of equities analysts recently issued reports on the company. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Credit Suisse Group restated an “outperform” rating and issued a $139.00 price objective (up previously from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company restated a “buy” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Scotiabank downgraded shares of Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. Norfolk Souther Corporation currently has a consensus rating of “Hold” and an average price target of $112.35.
In related news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were 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 in the company, valued at approximately $501,122. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
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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