Cleararc Capital Inc. maintained its 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 firm owned 7,097 shares of the railroad operator’s stock at the end of the first quarter. Cleararc Capital Inc.’s holdings in Norfolk Souther Corporation were worth $795,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in NSC. MCF Advisors LLC raised 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 last quarter. Parkside Financial Bank & Trust raised its position 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 last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Norfolk Souther Corporation during the first quarter valued at about $125,000. State of Alaska Department of Revenue purchased a new position in shares of Norfolk Souther Corporation during the first quarter valued at about $168,000. Finally, Cowen Prime Services LLC purchased a new position in shares of Norfolk Souther Corporation during the first quarter valued at about $179,000. Institutional investors own 70.51% of the company’s stock.
Shares of Norfolk Souther Corporation (NYSE:NSC) traded up 0.96% during mid-day trading on Friday, hitting $118.63. The stock had a trading volume of 1,448,245 shares. The stock has a market cap of $34.19 billion, a P/E ratio of 19.28 and a beta of 1.33. The company’s 50 day moving average is $118.72 and its 200-day moving average is $118.14. Norfolk Souther Corporation has a 52-week low of $89.92 and a 52-week high of $125.31.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 annualized dividend and a yield of 2.06%. Norfolk Souther Corporation’s payout ratio is 39.61%.
A number of research firms have recently weighed in on NSC. UBS AG restated a “buy” rating and issued a $133.00 target price on shares of Norfolk Souther Corporation in a report on Monday, August 14th. BidaskClub raised Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Wolfe Research raised Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Monday, August 7th. Cowen and Company reissued an “outperform” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, August 1st. Finally, Deutsche Bank AG downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $132.00 to $104.00 in a research report on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $112.35.
In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total value of $2,927,619.65. Following the transaction, the chairman now directly owns 76,481 shares in the company, valued at approximately $9,173,895.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $116.54, for a total transaction of $93,465.08. Following the completion of the transaction, the vice president now owns 4,300 shares in the company, valued at $501,122. The disclosure for this sale can be found here. 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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