Comerica Bank increased its holdings in Norfolk Souther Corporation (NYSE:NSC) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,466 shares of the railroad operator’s stock after acquiring an additional 3,658 shares during the quarter. Comerica Bank owned about 0.09% of Norfolk Souther Corporation worth $33,793,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Krilogy Financial LLC lifted its position in Norfolk Souther Corporation by 2.6% during the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after buying an additional 22 shares during the period. AlphaMark Advisors LLC lifted its position in Norfolk Souther Corporation by 20.7% during the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after buying an additional 150 shares during the period. D Orazio & Associates Inc. lifted its position in Norfolk Souther Corporation by 0.5% during the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after buying an additional 4 shares during the period. Harfst & Associates Inc. increased its holdings in shares of Norfolk Souther Corporation by 58.8% during the second quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock valued at $115,000 after acquiring an additional 350 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Norfolk Souther Corporation by 29.2% during the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after acquiring an additional 220 shares in the last quarter. 70.88% of the stock is owned by institutional investors and hedge funds.
Norfolk Souther Corporation (NYSE:NSC) traded up $0.47 during midday trading on Tuesday, hitting $127.62. The stock had a trading volume of 925,900 shares, compared to its average volume of 1,780,952. The company has a market cap of $36,383.82, a P/E ratio of 19.99, a P/E/G ratio of 1.64 and a beta of 1.37. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.73. Norfolk Souther Corporation has a 52-week low of $100.91 and a 52-week high of $134.52.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.11. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.65 billion. Norfolk Souther Corporation had a return on equity of 14.72% and a net margin of 17.86%. Norfolk Souther Corporation’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 EPS. research analysts expect that Norfolk Souther Corporation will post 6.46 EPS for the current fiscal year.
Norfolk Souther Corporation announced that its board has approved a share repurchase plan on Tuesday, September 26th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the railroad operator to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 3rd will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, November 2nd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 38.36%.
In related news, COO Michael Joseph Wheeler sold 2,370 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $118.68, for a total transaction of $281,271.60. Following the completion of the sale, the chief operating officer now directly owns 13,492 shares in the company, valued at approximately $1,601,230.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the sale, the vice president now owns 4,000 shares of the company’s stock, valued at $475,200. The disclosure for this sale can be found here. Insiders sold a total of 6,238 shares of company stock valued at $791,456 over the last quarter. Company insiders own 0.36% of the company’s stock.
Several equities research analysts recently commented on NSC shares. Argus boosted their price target on Norfolk Souther Corporation from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Morgan Stanley restated an “underweight” rating and set a $75.00 price target (down from $77.00) on shares of Norfolk Souther Corporation in a research note on Monday, October 2nd. Wells Fargo & Company downgraded Norfolk Souther Corporation from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. ValuEngine downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Citigroup Inc. boosted their price target on Norfolk Souther Corporation from $124.00 to $135.00 and gave the company a “neutral” rating in a research note on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the company. Norfolk Souther Corporation presently has an average rating of “Hold” and a consensus price target of $127.62.
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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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