Tudor Investment Corp ET AL Takes Position in Norfolk Souther Corporation (NSC)

Tudor Investment Corp ET AL purchased a new stake in shares of Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 156,078 shares of the railroad operator’s stock, valued at approximately $17,476,000. Tudor Investment Corp ET AL owned 0.05% of Norfolk Souther Corporation at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NSC. Barings LLC increased its stake in Norfolk Souther Corporation by 135.0% in the first quarter. Barings LLC now owns 32,656 shares of the railroad operator’s stock valued at $3,656,000 after buying an additional 18,760 shares in the last quarter. Southeast Asset Advisors Inc. purchased a new stake in Norfolk Souther Corporation during the first quarter valued at about $203,000. AQR Capital Management LLC increased its stake in Norfolk Souther Corporation by 6.7% in the first quarter. AQR Capital Management LLC now owns 1,317,053 shares of the railroad operator’s stock worth $147,470,000 after buying an additional 83,107 shares in the last quarter. Investment Centers of America Inc. increased its stake in Norfolk Souther Corporation by 84.1% in the first quarter. Investment Centers of America Inc. now owns 9,817 shares of the railroad operator’s stock worth $1,100,000 after buying an additional 4,484 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Norfolk Souther Corporation during the first quarter worth about $7,838,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Norfolk Souther Corporation (NSC) traded up 0.96% during midday trading on Friday, hitting $118.63. The stock had a trading volume of 1,448,245 shares. The company has a market cap of $34.19 billion, a price-to-earnings ratio of 19.28 and a beta of 1.33. The stock’s 50-day moving average price is $118.72 and its 200 day moving average price is $118.14. Norfolk Souther Corporation has a 52 week low of $89.92 and a 52 week high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. Norfolk Souther Corporation’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. On average, equities analysts forecast 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 issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.

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A number of analysts recently issued reports on NSC shares. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Deutsche Bank AG lifted their target price on Norfolk Souther Corporation from $126.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, April 28th. UBS AG reaffirmed a “buy” rating and issued a $138.00 target price (up previously from $135.00) on shares of Norfolk Souther Corporation in a research report on Friday, April 28th. Stifel Nicolaus lifted their target price on Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Wednesday, May 3rd. 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. The stock presently has an average rating of “Hold” and an average target price of $112.35.

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 value of $93,465.08. Following the completion of the transaction, the vice president now directly owns 4,300 shares of the company’s stock, valued at approximately $501,122. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman James A. Squires sold 24,407 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the transaction, the chairman now directly owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company 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.

Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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