Hartford Investment Management Co. cut its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,091 shares of the railroad operator’s stock after selling 2,526 shares during the period. Hartford Investment Management Co.’s holdings in Norfolk Souther Corporation were worth $7,678,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. D Orazio & Associates Inc. raised its position in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after buying an additional 4 shares during the period. MCF Advisors LLC raised its position in Norfolk Souther Corporation by 31.4% in the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock valued at $106,000 after buying an additional 227 shares during the period. Parkside Financial Bank & Trust raised its position in Norfolk Souther Corporation by 35.3% in the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock valued at $107,000 after buying an additional 250 shares during the period. Parallel Advisors LLC raised its position in Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after buying an additional 220 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Norfolk Souther Corporation during the first quarter valued at approximately $125,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Norfolk Souther Corporation (NYSE NSC) traded up 0.54% during midday trading on Wednesday, reaching $120.69. 533,916 shares of the company were exchanged. Norfolk Souther Corporation has a 52-week low of $88.62 and a 52-week high of $125.31. The stock has a market capitalization of $34.78 billion, a price-to-earnings ratio of 19.61 and a beta of 1.33. The company’s 50-day moving average price is $118.80 and its 200 day moving average price is $118.13.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating 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 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 company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
Several equities analysts recently commented on the company. Cowen and Company reissued an “outperform” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and issued a $124.00 target price (up previously from $122.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Zacks Investment Research lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Deutsche Bank AG lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating and dropped their target price for the company from $132.00 to $104.00 in a report on Monday, July 31st. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $139.00 target price (up previously 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. Four 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 company. The company presently has a consensus rating of “Hold” and an average target price of $112.35.
In related news, VP Thomas E. Hurlbut sold 802 shares of the business’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 completion of the sale, the vice president now owns 4,300 shares of the company’s stock, valued at approximately $501,122. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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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