Norfolk Souther Corporation (NSC) Position Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its stake in Norfolk Souther Corporation (NYSE:NSC) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,519,512 shares of the railroad operator’s stock after purchasing an additional 15,712 shares during the quarter. Dimensional Fund Advisors LP owned about 1.22% of Norfolk Souther Corporation worth $428,268,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Norfolk Souther Corporation by 3.6% in the second quarter. BlackRock Inc. now owns 20,251,999 shares of the railroad operator’s stock valued at $2,464,667,000 after purchasing an additional 700,567 shares during the period. Vanguard Group Inc. grew its holdings in Norfolk Souther Corporation by 3.2% in the second quarter. Vanguard Group Inc. now owns 20,097,333 shares of the railroad operator’s stock valued at $2,445,845,000 after purchasing an additional 631,018 shares during the period. State Street Corp grew its holdings in Norfolk Souther Corporation by 2.2% in the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock valued at $1,451,226,000 after purchasing an additional 281,088 shares during the period. FMR LLC grew its holdings in Norfolk Souther Corporation by 13.0% in the second quarter. FMR LLC now owns 6,618,986 shares of the railroad operator’s stock valued at $805,530,000 after purchasing an additional 762,416 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Norfolk Souther Corporation by 17.1% in the second quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock valued at $772,007,000 after purchasing an additional 925,496 shares during the period. Hedge funds and other institutional investors own 70.60% of the company’s stock.

A number of research firms recently issued reports on NSC. BidaskClub upgraded shares of Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Credit Suisse Group restated an “outperform” rating and issued a $143.00 target price (up from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday. They noted that the move was a valuation call. Aegis restated a “hold” rating and issued a $125.00 target price (up from $120.00) on shares of Norfolk Souther Corporation in a report on Tuesday. 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. Finally, Cowen and Company restated an “outperform” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Norfolk Souther Corporation presently has a consensus rating of “Hold” and an average target price of $114.13.

In other news, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at $475,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the stock in a transaction that occurred on 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 completion of the sale, 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. Insiders have sold 27,077 shares of company stock valued at $3,244,531 in the last ninety days. Company insiders own 0.36% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.com-unik.info/2017/10/12/norfolk-souther-corporation-nsc-position-raised-by-dimensional-fund-advisors-lp.html.

Norfolk Souther Corporation (NYSE:NSC) opened at 131.49 on Thursday. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $133.81. The stock’s 50 day moving average is $126.71 and its 200-day moving average is $119.96. The firm has a market capitalization of $37.89 billion, a PE ratio of 21.37 and a beta of 1.38.

Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. Equities analysts expect that Norfolk Souther Corporation will post $6.35 earnings per share for the current year.

Norfolk Souther Corporation announced that its board has authorized a stock repurchase plan on Tuesday, September 26th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the railroad operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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)

What are top analysts saying about Norfolk Souther Corporation? - 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 Souther Corporation 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