Numeric Investors LLC trimmed its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 50.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,700 shares of the railroad operator’s stock after selling 1,700 shares during the quarter. Numeric Investors LLC’s holdings in Norfolk Souther Corporation were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of NSC. Norinchukin Bank The grew its stake in Norfolk Souther Corporation by 6.6% during the first quarter. Norinchukin Bank The now owns 18,881 shares of the railroad operator’s stock worth $2,114,000 after purchasing an additional 1,170 shares during the period. Quantitative Investment Management LLC acquired a new stake in Norfolk Souther Corporation during the first quarter worth approximately $15,205,000. HL Financial Services LLC grew its stake in Norfolk Souther Corporation by 2.6% during the first quarter. HL Financial Services LLC now owns 16,687 shares of the railroad operator’s stock worth $1,869,000 after purchasing an additional 417 shares during the period. Trexquant Investment LP grew its stake in Norfolk Souther Corporation by 21.6% during the first quarter. Trexquant Investment LP now owns 16,300 shares of the railroad operator’s stock worth $1,825,000 after purchasing an additional 2,900 shares during the period. Finally, Carret Asset Management LLC grew its stake in Norfolk Souther Corporation by 2.6% during the first quarter. Carret Asset Management LLC now owns 7,015 shares of the railroad operator’s stock worth $785,000 after purchasing an additional 180 shares during the period. Institutional investors own 70.45% of the company’s stock.
Shares of Norfolk Souther Corporation (NYSE NSC) opened at 129.48 on Wednesday. Norfolk Souther Corporation has a one year low of $89.95 and a one year high of $134.52. The company’s 50-day moving average price is $127.81 and its 200-day moving average price is $120.30. The company has a market capitalization of $37.31 billion, a price-to-earnings ratio of 21.04 and a beta of 1.38.
Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Norfolk Souther Corporation will post $6.36 earnings per share for the current year.
Norfolk Souther Corporation declared that its board has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to buyback 50,000,000 outstanding shares. This buyback authorization permits the railroad operator to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction 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 sale, the chairman now directly owns 76,481 shares in the company, valued at approximately $9,173,895.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $118.68, for a total value of $281,271.60. Following the sale, the chief operating officer now owns 13,492 shares in the company, valued at $1,601,230.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,077 shares of company stock worth $3,244,531. Company insiders own 0.36% of the company’s stock.
Several equities research analysts recently commented on NSC shares. Scotiabank cut Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. Cowen and Company reaffirmed a “buy” rating and set a $130.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Credit Suisse Group reaffirmed an “outperform” rating and set a $139.00 target price (up previously from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 13th. They noted that the move was a valuation call. Stephens reaffirmed an “overweight” rating and set a $140.00 target price (down previously from $147.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Finally, BidaskClub cut Norfolk Souther Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $118.38.
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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