First National Trust Co. raised its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,224 shares of the railroad operator’s stock after acquiring an additional 592 shares during the period. First National Trust Co.’s holdings in Norfolk Souther Corporation were worth $1,881,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BB&T Investment Services Inc. acquired a new stake in Norfolk Souther Corporation during the 2nd quarter valued at approximately $287,000. Korea Investment CORP increased its holdings in shares of Norfolk Souther Corporation by 7.8% during the 2nd quarter. Korea Investment CORP now owns 269,011 shares of the railroad operator’s stock valued at $32,739,000 after purchasing an additional 19,485 shares in the last quarter. Israel Discount Bank of New York purchased a new position in shares of Norfolk Souther Corporation during the 1st quarter valued at approximately $456,000. Curbstone Financial Management Corp increased its holdings in shares of Norfolk Souther Corporation by 106.1% during the 3rd quarter. Curbstone Financial Management Corp now owns 8,298 shares of the railroad operator’s stock valued at $1,097,000 after purchasing an additional 4,271 shares in the last quarter. Finally, Airain ltd purchased a new position in shares of Norfolk Souther Corporation during the 2nd quarter valued at approximately $2,410,000. Institutional investors and hedge funds own 70.88% of the company’s stock.
Shares of Norfolk Souther Corporation (NYSE NSC) traded down $0.84 during mid-day trading on Monday, hitting $127.15. 1,301,000 shares of the stock traded hands, compared to its average volume of 1,784,874. 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 firm has a market cap of $36,560.00, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37. Norfolk Souther Corporation has a 1 year low of $98.92 and a 1 year high of $134.52.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 EPS. analysts expect that Norfolk Souther Corporation will post 6.46 EPS for the current fiscal year.
Norfolk Souther Corporation declared that its board has approved a share buyback plan on Tuesday, September 26th that authorizes the company to repurchase 50,000,000 outstanding shares. This repurchase authorization authorizes the railroad operator to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $2.44 annualized dividend and a dividend yield of 1.92%. Norfolk Souther Corporation’s payout ratio is 38.79%.
NSC has been the subject of several recent research reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $133.00 target price (down from $139.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. They noted that the move was a valuation call. Stephens reaffirmed an “overweight” rating and set a $140.00 target price (down from $147.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. BidaskClub lowered shares of Norfolk Souther Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $124.00 target price (up from $122.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $127.62.
In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total value of $2,927,619.65. Following the transaction, the chairman now owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the transaction, 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. In the last three months, insiders have sold 30,645 shares of company stock worth $3,719,075. Corporate insiders own 0.36% of the company’s stock.
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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