Alpha Windward LLC Reduces Stake in Norfolk Southern Corp. (NSC)

Alpha Windward LLC cut its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,361 shares of the railroad operator’s stock after selling 28 shares during the period. Alpha Windward LLC’s holdings in Norfolk Southern Corp. were worth $264,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. First Manhattan Co. increased its stake in shares of Norfolk Southern Corp. by 8.2% in the third quarter. First Manhattan Co. now owns 12,984 shares of the railroad operator’s stock valued at $1,260,000 after buying an additional 987 shares in the last quarter. WealthTrust Arizona LLC increased its stake in shares of Norfolk Southern Corp. by 0.9% in the third quarter. WealthTrust Arizona LLC now owns 1,100 shares of the railroad operator’s stock valued at $107,000 after buying an additional 10 shares in the last quarter. Bartlett & Co. LLC increased its stake in shares of Norfolk Southern Corp. by 1.3% in the third quarter. Bartlett & Co. LLC now owns 113,003 shares of the railroad operator’s stock valued at $10,968,000 after buying an additional 1,480 shares in the last quarter. Berkshire Asset Management LLC PA increased its stake in shares of Norfolk Southern Corp. by 7.5% in the third quarter. Berkshire Asset Management LLC PA now owns 84,344 shares of the railroad operator’s stock valued at $8,186,000 after buying an additional 5,890 shares in the last quarter. Finally, Hartford Financial Management Inc. increased its stake in shares of Norfolk Southern Corp. by 2.6% in the third quarter. Hartford Financial Management Inc. now owns 1,682 shares of the railroad operator’s stock valued at $163,000 after buying an additional 42 shares in the last quarter. 70.02% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Norfolk Southern Corp. (NYSE:NSC)

Norfolk Southern Corp. (NYSE:NSC) traded down 4.06% during midday trading on Wednesday, reaching $112.12. 1,734,587 shares of the company traded hands. The company has a market capitalization of $32.49 billion, a price-to-earnings ratio of 19.29 and a beta of 1.24. Norfolk Southern Corp. has a one year low of $78.73 and a one year high of $125.00. The stock’s 50 day moving average is $115.56 and its 200 day moving average is $112.63.

Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 26th. The railroad operator reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. Norfolk Southern Corp. had a net margin of 16.87% and a return on equity of 13.53%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the business earned $1.29 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern Corp. will post $6.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Friday, May 5th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Wednesday, May 3rd. Norfolk Southern Corp.’s payout ratio is currently 43.42%.

WARNING: This piece of content was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.com-unik.info/2017/05/17/alpha-windward-llc-has-264000-stake-in-norfolk-southern-corp-nsc-updated-updated-updated.html.

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group AG reissued an “outperform” rating and set a $136.00 price objective (up previously from $128.00) on shares of Norfolk Southern Corp. in a research report on Monday, March 6th. Cowen and Company increased their price objective on shares of Norfolk Southern Corp. from $116.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Wells Fargo & Co started coverage on shares of Norfolk Southern Corp. in a report on Monday, March 13th. They set an “outperform” rating for the company. Deutsche Bank AG increased their target price on shares of Norfolk Southern Corp. from $126.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, TD Securities restated a “hold” rating on shares of Norfolk Southern Corp. in a report on Thursday, April 27th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $105.78.

In other Norfolk Southern Corp. news, EVP Marta R. Stewart sold 2,331 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $124.43, for a total transaction of $290,046.33. Following the transaction, the executive vice president now directly owns 16,156 shares in the company, valued at $2,010,291.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas E. Hurlbut sold 1,475 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $122.37, for a total value of $180,495.75. Following the sale, the vice president now directly owns 8,634 shares of the company’s stock, valued at approximately $1,056,542.58. The disclosure for this sale can be found here. Insiders have sold 15,251 shares of company stock worth $1,833,865 over the last quarter. Company insiders own 0.66% of the company’s stock.

Norfolk Southern Corp. 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.

5 Day Chart for NYSE:NSC

What are top analysts saying about Norfolk Southern Corp.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Norfolk Southern Corp. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit