FinTrust Investment Advisory Services LLC bought a new stake in shares of Norfolk Souther Corporation (NYSE:NSC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,703 shares of the railroad operator’s stock, valued at approximately $357,000.
A number of other large investors have also made changes to their positions in NSC. Highstreet Asset Management Inc. acquired a new position in Norfolk Souther Corporation during the 1st quarter valued at about $1,363,000. Private Advisor Group LLC increased its position in Norfolk Souther Corporation by 59.3% during the 1st quarter. Private Advisor Group LLC now owns 26,915 shares of the railroad operator’s stock valued at $1,948,000 after buying an additional 10,014 shares in the last quarter. Delta Lloyd NV grew its stake in Norfolk Souther Corporation by 5.5% during the 1st quarter. Delta Lloyd NV now owns 55,876 shares of the railroad operator’s stock valued at $6,565,000 after purchasing an additional 2,907 shares during the last quarter. Congress Asset Management Co. MA grew its stake in Norfolk Souther Corporation by 1.3% during the 1st quarter. Congress Asset Management Co. MA now owns 43,949 shares of the railroad operator’s stock valued at $4,921,000 after purchasing an additional 559 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Norfolk Souther Corporation by 1.3% during the 1st quarter. Pinnacle Associates Ltd. now owns 9,219 shares of the railroad operator’s stock valued at $1,032,000 after purchasing an additional 118 shares during the last quarter. 70.88% of the stock is currently owned by institutional investors.
Several analysts have weighed in on NSC shares. Morgan Stanley reiterated an “underweight” rating and set a $75.00 price target (down previously from $77.00) on shares of Norfolk Souther Corporation in a research note on Monday, October 2nd. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “sell” rating and set a $117.00 price target on shares of Norfolk Souther Corporation in a research note on Tuesday, August 29th. Stifel Nicolaus reiterated a “hold” rating and set a $124.00 price target on shares of Norfolk Souther Corporation in a research note on Tuesday, September 12th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $143.00 price target (up previously from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, October 12th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the company. Norfolk Souther Corporation has a consensus rating of “Hold” and a consensus price target of $127.62.
Shares of Norfolk Souther Corporation (NYSE NSC) opened at $126.98 on Wednesday. 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 stock has a market capitalization of $36,383.82, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37. Norfolk Souther Corporation has a one year low of $102.59 and a one year high of $134.52.
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 consensus estimate of $1.64 by $0.11. Norfolk Souther Corporation had a return on equity of 14.72% and a net margin of 17.86%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. equities analysts expect that Norfolk Souther Corporation will post 6.46 EPS for the current year.
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 is Thursday, November 2nd. This represents a $2.44 annualized dividend and a dividend yield of 1.92%. Norfolk Souther Corporation’s dividend payout ratio is currently 38.36%.
Norfolk Souther Corporation declared that its Board of Directors has initiated a stock 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 buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Norfolk Souther Corporation news, COO Michael Joseph Wheeler sold 3,568 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was 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 $2,106,321. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction dated 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 in the company, valued at approximately $475,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,238 shares of company stock valued at $791,456. Company 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.
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.