1ST Source Bank Has $5.86 Million Stake in Norfolk Souther Corporation (NSC)

1ST Source Bank decreased its position in Norfolk Souther Corporation (NYSE:NSC) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,162 shares of the railroad operator’s stock after selling 743 shares during the period. 1ST Source Bank’s holdings in Norfolk Souther Corporation were worth $5,862,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NSC. Macquarie Group Ltd. increased its stake in shares of Norfolk Souther Corporation by 22.5% in the fourth quarter. Macquarie Group Ltd. now owns 60,300 shares of the railroad operator’s stock worth $6,517,000 after buying an additional 11,060 shares in the last quarter. Atria Investments LLC increased its stake in shares of Norfolk Souther Corporation by 3.7% in the first quarter. Atria Investments LLC now owns 2,431 shares of the railroad operator’s stock worth $272,000 after buying an additional 87 shares in the last quarter. Somerset Trust Co increased its stake in shares of Norfolk Souther Corporation by 1.9% in the first quarter. Somerset Trust Co now owns 13,021 shares of the railroad operator’s stock worth $1,458,000 after buying an additional 245 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Norfolk Souther Corporation by 9.0% in the first quarter. DnB Asset Management AS now owns 32,743 shares of the railroad operator’s stock worth $3,666,000 after buying an additional 2,700 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. bought a new stake in shares of Norfolk Souther Corporation during the first quarter worth about $7,229,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Souther Corporation (NYSE:NSC) opened at 117.50 on Friday. The company’s 50-day moving average price is $118.75 and its 200 day moving average price is $118.15. The company has a market capitalization of $33.86 billion, a price-to-earnings ratio of 19.09 and a beta of 1.33. Norfolk Souther Corporation has a 12 month low of $89.92 and a 12 month high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the 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 revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. Analysts forecast that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.

ILLEGAL ACTIVITY NOTICE: “1ST Source Bank Has $5.86 Million Stake in Norfolk Souther Corporation (NSC)” was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://sportsperspectives.com/2017/08/18/1st-source-bank-has-5-86-million-stake-in-norfolk-souther-corporation-nsc.html.

A number of equities research analysts recently issued reports on NSC shares. TD Securities reissued a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Deutsche Bank AG upped their target price on Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. UBS AG restated a “buy” rating and set 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 upped their target price on Norfolk Souther Corporation from $114.00 to $122.00 and gave the stock 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 equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $112.35.

In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 802 shares of the business’s stock in a transaction 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 directly owns 4,300 shares of the company’s stock, valued at $501,122. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction 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 directly owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Souther Corporation (NYSE:NSC).

Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

Receive News & Ratings for Norfolk Souther Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Souther Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply