Richard C. Young & CO. LTD. lowered its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,631 shares of the railroad operator’s stock after selling 1,735 shares during the period. Norfolk Souther Corporation makes up approximately 2.3% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 12th largest position. Richard C. Young & CO. LTD.’s holdings in Norfolk Souther Corporation were worth $11,715,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. RMB Capital Management LLC raised its stake in Norfolk Souther Corporation by 3.4% in the fourth quarter. RMB Capital Management LLC now owns 4,629 shares of the railroad operator’s stock worth $500,000 after buying an additional 152 shares in the last quarter. USA Financial Portformulas Corp bought a new position in shares of Norfolk Souther Corporation during the fourth quarter valued at approximately $3,171,000. HighPoint Advisor Group LLC raised its position in shares of Norfolk Souther Corporation by 8.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,127 shares of the railroad operator’s stock valued at $386,000 after buying an additional 254 shares during the period. Teachers Advisors LLC raised its position in shares of Norfolk Souther Corporation by 45.2% in the fourth quarter. Teachers Advisors LLC now owns 604,869 shares of the railroad operator’s stock valued at $65,368,000 after buying an additional 188,394 shares during the period. Finally, Kentucky Retirement Systems bought a new position in shares of Norfolk Souther Corporation during the fourth quarter valued at approximately $2,289,000. Institutional investors own 70.59% of the company’s stock.
Norfolk Souther Corporation (NYSE:NSC) opened at 117.46 on Thursday. The company has a market cap of $33.85 billion, a PE ratio of 19.09 and a beta of 1.33. The firm’s 50-day moving average is $118.86 and its 200 day moving average is $118.14. Norfolk Souther Corporation has a 1-year low of $87.97 and a 1-year high of $125.31.
Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.61 per share. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.08%. Norfolk Souther Corporation’s payout ratio is 39.61%.
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Several research analysts have commented on the stock. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Credit Suisse Group restated an “outperform” rating and issued a $139.00 price objective (up from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company restated a “buy” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Scotiabank lowered shares of Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $112.17.
In other news, VP Thomas E. Hurlbut sold 802 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $116.54, for a total transaction of $93,465.08. Following the sale, the vice president now owns 4,300 shares in the company, valued at $501,122. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 1,427 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $116.92, for a total value of $166,844.84. Following the sale, the vice president now owns 5,102 shares in the company, valued at approximately $596,525.84. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
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.
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