Day & Ennis LLC continued to hold its position in Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,275 shares of the railroad operator’s stock at the end of the first quarter. Day & Ennis LLC’s holdings in Norfolk Souther Corporation were worth $255,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of NSC. BlackRock Inc. boosted its stake in Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock valued at $2,189,172,000 after buying an additional 18,928,598 shares during the period. State Street Corp boosted its stake in Norfolk Souther Corporation by 2.2% in the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock valued at $1,451,226,000 after buying an additional 281,088 shares during the period. Alliancebernstein L.P. boosted its stake in 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 valued at $602,226,000 after buying an additional 4,859,355 shares during the period. JPMorgan Chase & Co. boosted its stake in 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 valued at $471,313,000 after buying an additional 1,016,319 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Norfolk Souther Corporation by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,800 shares of the railroad operator’s stock valued at $392,383,000 after buying an additional 30,856 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.
Norfolk Souther Corporation (NYSE NSC) traded up 0.32% during mid-day trading on Wednesday, reaching $120.43. The company’s stock had a trading volume of 1,180,341 shares. The stock’s 50 day moving average is $118.80 and its 200 day moving average is $118.13. The firm has a market cap of $34.71 billion, a PE ratio of 19.57 and a beta of 1.33. Norfolk Souther Corporation has a one year low of $88.62 and a one year high of $125.31.
Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the business posted $1.36 EPS. The company’s revenue was up 7.5% on a year-over-year basis. On average, analysts anticipate that Norfolk Souther Corporation will post $6.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be given a $0.61 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a yield of 2.03%. Norfolk Souther Corporation’s payout ratio is 39.61%.
Several research analysts have recently commented on the company. UBS AG reissued a “buy” rating and set a $133.00 target price on shares of Norfolk Souther Corporation in a research note on Monday. BidaskClub raised 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 on the stock in a research note on Monday, August 7th. Cowen and Company reiterated an “outperform” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Finally, Deutsche Bank AG cut Norfolk Souther Corporation from a “buy” rating to a “hold” rating and dropped their target price for the stock from $132.00 to $104.00 in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. Norfolk Souther Corporation has a consensus rating of “Hold” and a consensus target price of $112.35.
In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total value of $2,927,619.65. Following the completion of the sale, the chairman now owns 76,481 shares in the company, valued at approximately $9,173,895.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas E. Hurlbut sold 802 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the transaction, the vice president now owns 4,300 shares in the company, valued at approximately $501,122. The disclosure for this sale can be found here. 0.36% of the stock is 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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