First Quadrant L P CA continued to hold its position in shares of Norfolk Souther Corporation (NYSE:NSC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,500 shares of the railroad operator’s stock at the end of the second quarter. First Quadrant L P CA’s holdings in Norfolk Souther Corporation were worth $14,421,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. RMB Capital Management LLC increased its stake in Norfolk Souther Corporation by 3.4% in the fourth quarter. RMB Capital Management LLC now owns 4,629 shares of the railroad operator’s stock worth $500,000 after buying an additional 152 shares during the last quarter. USA Financial Portformulas Corp purchased a new stake in Norfolk Souther Corporation during the fourth quarter worth $3,171,000. HighPoint Advisor Group LLC increased its stake in Norfolk Souther Corporation by 8.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,127 shares of the railroad operator’s stock worth $386,000 after buying an additional 254 shares during the last quarter. Teachers Advisors LLC increased its stake in Norfolk Souther Corporation by 45.2% in the fourth quarter. Teachers Advisors LLC now owns 604,869 shares of the railroad operator’s stock worth $65,368,000 after buying an additional 188,394 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in Norfolk Souther Corporation during the fourth quarter worth $2,289,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.
Norfolk Souther Corporation (NSC) opened at 116.56 on Friday. Norfolk Souther Corporation has a 52 week low of $88.07 and a 52 week high of $125.31. The company has a market capitalization of $33.59 billion, a PE ratio of 18.94 and a beta of 1.33. The stock has a 50 day moving average price of $118.78 and a 200-day moving average price of $118.14.
Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings results 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 analysts’ expectations of $2.64 billion. During the same period in the previous year, the company earned $1.36 EPS. The firm’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 fiscal year.
The business also recently disclosed 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 annualized dividend and a yield of 2.09%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.
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A number of brokerages recently commented on NSC. Cowen and Company reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set 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 stock from $132.00 to $104.00 in a report on Monday, July 31st. Finally, Credit Suisse Group reiterated an “outperform” rating and set 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 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. Norfolk Souther Corporation currently has an average rating of “Hold” and a consensus target price of $112.65.
In other 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 value of $93,465.08. Following the completion of the sale, the vice president now owns 4,300 shares in the company, valued at approximately $501,122. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.36% of the stock is owned by insiders.
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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