Mackenzie Financial Corp acquired a new stake in shares of Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,880 shares of the railroad operator’s stock, valued at approximately $211,000.
Several other institutional investors have also modified their holdings of NSC. First Manhattan Co. raised its position in shares of Norfolk Souther Corporation by 16.6% in the first quarter. First Manhattan Co. now owns 12,984 shares of the railroad operator’s stock valued at $1,260,000 after buying an additional 1,848 shares in the last quarter. Pillar Pacific Capital Management LLC raised its position in shares of Norfolk Souther Corporation by 0.9% in the first quarter. Pillar Pacific Capital Management LLC now owns 58,450 shares of the railroad operator’s stock valued at $6,544,000 after buying an additional 520 shares in the last quarter. Lee Danner & Bass Inc. raised its position in shares of Norfolk Souther Corporation by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock valued at $257,000 after buying an additional 7 shares in the last quarter. Berkshire Asset Management LLC PA raised its position in shares of Norfolk Souther Corporation by 4.7% in the first quarter. Berkshire Asset Management LLC PA now owns 91,187 shares of the railroad operator’s stock valued at $10,210,000 after buying an additional 4,071 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Norfolk Souther Corporation during the fourth quarter worth $2,289,000. Institutional investors and hedge funds own 70.51% of the company’s stock.
Shares of Norfolk Souther Corporation (NSC) traded up 0.38% during trading on Tuesday, hitting $120.00. The stock had a trading volume of 345,422 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 52 week low of $87.97 and a 52 week high of $125.31. The company has a market capitalization of $34.58 billion, a PE ratio of 19.50 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. Norfolk Souther Corporation’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 EPS. Equities analysts anticipate that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors 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 yield of 2.04%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
A number of research firms have weighed in on NSC. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $139.00 price target (up previously from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company reaffirmed a “buy” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Scotiabank cut Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research cut Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Norfolk Souther Corporation presently has a consensus rating of “Hold” and an average price target of $112.35.
In related news, VP Thomas E. Hurlbut sold 802 shares of the 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.36% of the company’s stock.
Norfolk Souther Corporation Company 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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