Bender Robert & Associates cut its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 1.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,960 shares of the railroad operator’s stock after selling 95 shares during the period. Norfolk Souther Corporation accounts for approximately 0.4% of Bender Robert & Associates’ investment portfolio, making the stock its 29th largest position. Bender Robert & Associates’ holdings in Norfolk Souther Corporation were worth $555,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after buying an additional 1,016,319 shares in the last quarter. Investec Asset Management LTD purchased a new stake in shares of Norfolk Souther Corporation during the first quarter worth about $92,710,000. Ameriprise Financial Inc. raised its stake in shares of Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock worth $208,626,000 after buying an additional 492,922 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Norfolk Souther Corporation by 34.7% in the first quarter. American Century Companies Inc. now owns 1,459,919 shares of the railroad operator’s stock worth $163,467,000 after buying an additional 375,745 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.
Norfolk Souther Corporation (NSC) traded up 0.41% during midday trading on Tuesday, reaching $120.04. The company’s stock had a trading volume of 1,360,881 shares. The firm has a 50 day moving average price of $118.79 and a 200 day moving average price of $118.14. Norfolk Souther Corporation has a one year low of $87.97 and a one year high of $125.31. The firm has a market cap of $34.59 billion, a P/E ratio of 19.51 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.
Several brokerages have recently commented on NSC. UBS AG reiterated a “buy” rating and set a $138.00 target price (up from $135.00) on shares of Norfolk Souther Corporation in a research note on Friday, April 28th. BidaskClub upgraded Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Wolfe Research raised Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Monday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $140.00 price objective (down from $147.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Finally, Cowen and Company reissued an “outperform” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $112.35.
In other news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the sale, the vice president now directly owns 4,300 shares in the company, valued at approximately $501,122. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by corporate 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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