APG Asset Management N.V. Grows Holdings in Norfolk Souther Corporation (NSC)

APG Asset Management N.V. raised its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 65.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,789 shares of the railroad operator’s stock after purchasing an additional 61,900 shares during the period. APG Asset Management N.V. owned 0.05% of Norfolk Souther Corporation worth $20,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Krilogy Financial LLC lifted its position in Norfolk Souther Corporation by 2.6% during the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after purchasing an additional 22 shares during the period. AlphaMark Advisors LLC lifted its position in Norfolk Souther Corporation by 20.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after purchasing an additional 150 shares during the period. D Orazio & Associates Inc. lifted its position in Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after purchasing an additional 4 shares during the period. Harfst & Associates Inc. lifted its position in Norfolk Souther Corporation by 58.8% during the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock valued at $115,000 after purchasing an additional 350 shares during the period. Finally, Parallel Advisors LLC lifted its position in Norfolk Souther Corporation by 29.2% during the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after purchasing an additional 220 shares during the period. Institutional investors own 70.55% of the company’s stock.

In other news, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was 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 $9,173,895.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the transaction, the vice president now owns 4,000 shares in the company, valued at $475,200. The disclosure for this sale can be found here. Insiders sold 30,645 shares of company stock valued at $3,719,075 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

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A number of research analysts have issued reports on the stock. BidaskClub upgraded shares of Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. UBS AG upped their price target on Norfolk Souther Corporation from $133.00 to $154.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Morgan Stanley upped their price target on Norfolk Souther Corporation from $75.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, October 26th. BMO Capital Markets increased their target price on Norfolk Souther Corporation from $127.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Finally, TD Securities increased their target price on Norfolk Souther Corporation from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Four 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’s stock. The stock presently has an average rating of “Hold” and an average target price of $123.61.

Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 132.80 on Tuesday. The company has a market cap of $38.27 billion, a P/E ratio of 21.58 and a beta of 1.38. The stock’s 50 day moving average price is $130.55 and its 200 day moving average price is $121.68. Norfolk Souther Corporation has a 12-month low of $90.98 and a 12-month high of $134.52.

Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.11. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. Norfolk Souther Corporation had a return on equity of 14.72% and a net margin of 17.86%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. On average, analysts forecast that Norfolk Souther Corporation will post $6.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 3rd will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, November 2nd. Norfolk Souther Corporation’s payout ratio is currently 38.36%.

Norfolk Souther Corporation announced that its board has approved a share repurchase program on Tuesday, September 26th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the railroad operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually 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.

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

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