Norfolk Souther Corporation (NSC) Holdings Boosted by Aperio Group LLC

Aperio Group LLC lifted its stake in Norfolk Souther Corporation (NYSE:NSC) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,049 shares of the railroad operator’s stock after buying an additional 9,656 shares during the quarter. Aperio Group LLC owned about 0.05% of Norfolk Souther Corporation worth $19,578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of NSC. Highstreet Asset Management Inc. purchased a new position in Norfolk Souther Corporation during the 1st quarter valued at approximately $1,363,000. Private Advisor Group LLC boosted its holdings in shares of Norfolk Souther Corporation by 59.3% in the 1st quarter. Private Advisor Group LLC now owns 26,915 shares of the railroad operator’s stock worth $1,948,000 after purchasing an additional 10,014 shares during the period. Delta Lloyd NV boosted its holdings in shares of Norfolk Souther Corporation by 5.5% in the 1st quarter. Delta Lloyd NV now owns 55,876 shares of the railroad operator’s stock worth $6,565,000 after purchasing an additional 2,907 shares during the period. Congress Asset Management Co. MA boosted its holdings in shares of Norfolk Souther Corporation by 1.3% in the 1st quarter. Congress Asset Management Co. MA now owns 43,949 shares of the railroad operator’s stock worth $4,921,000 after purchasing an additional 559 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Norfolk Souther Corporation by 1.3% in the 1st quarter. Pinnacle Associates Ltd. now owns 9,219 shares of the railroad operator’s stock worth $1,032,000 after purchasing an additional 118 shares during the period. 70.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of 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. Norfolk Souther Corporation has a twelve month low of $100.91 and a twelve month high of $134.52. 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 capitalization of $36,383.82, a PE ratio of 19.99, a P/E/G ratio of 1.64 and a beta of 1.37.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.11. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm earned $1.55 earnings per share. sell-side analysts expect that Norfolk Souther Corporation will post 6.46 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 3rd will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, November 2nd. 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 program on Tuesday, September 26th that authorizes the company to buyback 50,000,000 shares. This buyback authorization authorizes the railroad operator to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other news, COO Michael Joseph Wheeler sold 3,568 shares of Norfolk Souther Corporation stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $133.00, for a total transaction of $474,544.00. Following the completion of the sale, the chief operating officer now directly owns 15,837 shares in the company, valued at approximately $2,106,321. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction 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. In the last three months, insiders have sold 6,238 shares of company stock worth $791,456. Corporate insiders own 0.36% of the company’s stock.

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NSC has been the subject of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $75.00 target price (down previously from $77.00) on shares of Norfolk Souther Corporation in a report on Monday, October 2nd. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reissued 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 reaffirmed a “hold” rating and set a $124.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, September 12th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $143.00 target price (up from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, October 12th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Norfolk Souther Corporation currently has an average rating of “Hold” and a consensus price target of $127.62.

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.

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

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