Meridian Wealth Management LLC purchased a new stake in shares of Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,760 shares of the railroad operator’s stock, valued at approximately $309,000.
Other hedge funds have also made changes to their positions in the company. D Orazio & Associates Inc. increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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 stake in shares of Norfolk Souther Corporation during the first quarter valued at about $125,000. 70.59% of the stock is currently owned by institutional investors.
Norfolk Souther Corporation (NSC) traded up 0.64% during trading on Friday, reaching $116.18. 346,004 shares of the company’s stock were exchanged. Norfolk Souther Corporation has a 52 week low of $87.97 and a 52 week high of $125.31. The company’s 50 day moving average price is $118.80 and its 200-day moving average price is $118.12. The stock has a market capitalization of $33.48 billion, a price-to-earnings ratio of 18.88 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping the consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. On average, equities analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current year.
The business also recently declared 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 dividend yield of 2.11%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.
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Several analysts have issued reports on the stock. UBS AG reaffirmed a “buy” rating and issued a $138.00 price target (up previously from $135.00) on shares of Norfolk Souther Corporation in a report on Friday, April 28th. BidaskClub raised shares of Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday. Stephens reaffirmed an “overweight” rating and issued a $140.00 price target (down previously from $147.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Wolfe Research raised shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Monday. Finally, Cowen and Company reaffirmed an “outperform” rating and issued 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, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $112.17.
In related news, VP Thomas E. Hurlbut sold 802 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 4,300 shares in the company, valued at $501,122. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.36% of the company’s stock.
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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