Lakeview Capital Partners LLC Acquires New Holdings in Norfolk Souther Corporation (NSC)

Lakeview Capital Partners LLC acquired a new position in Norfolk Souther Corporation (NYSE:NSC) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,469 shares of the railroad operator’s stock, valued at approximately $855,000.

A number of other hedge funds have also modified their holdings of the stock. D Orazio & Associates Inc. boosted its stake 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 in the last quarter. Harbour Capital Advisors LLC boosted its stake in Norfolk Souther Corporation by 12,069.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock valued at $102,000 after purchasing an additional 12,311 shares in the last quarter. Krilogy Financial LLC boosted its stake 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 in the last quarter. AlphaMark Advisors LLC boosted its stake 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 in the last quarter. Finally, Parallel Advisors LLC boosted its stake 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 in the last quarter. 70.55% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Lakeview Capital Partners LLC Acquires New Holdings in Norfolk Souther Corporation (NSC)” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.com-unik.info/2017/10/31/lakeview-capital-partners-llc-acquires-new-holdings-in-norfolk-souther-corporation-nsc.html.

A number of equities analysts have issued reports on NSC shares. BMO Capital Markets increased their price target on Norfolk Souther Corporation from $127.00 to $135.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. TD Securities increased their price target on Norfolk Souther Corporation from $130.00 to $135.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. ValuEngine lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Aegis reaffirmed a “hold” rating and set a $125.00 price target (up from $120.00) on shares of Norfolk Souther Corporation in a research note on Tuesday, October 10th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $123.61.

Norfolk Souther Corporation (NSC) traded down 0.27% during mid-day trading on Tuesday, hitting $132.44. The stock had a trading volume of 621,141 shares. Norfolk Souther Corporation has a 1-year low of $90.98 and a 1-year high of $134.52. The company has a 50-day moving average price of $130.55 and a 200 day moving average price of $121.68. The company has a market cap of $38.17 billion, a P/E ratio of 21.52 and a beta of 1.38.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 EPS. Equities research analysts forecast that Norfolk Souther Corporation will post $6.47 EPS for the current fiscal year.

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

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

In related news, COO Michael Joseph Wheeler sold 2,370 shares of the business’s 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 directly owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now directly owns 76,481 shares in the company, valued at $9,173,895.95. The disclosure for this sale can be found here. Insiders sold a total of 30,645 shares of company stock worth $3,719,075 over the last ninety days. 0.36% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Souther Corporation (NYSE:NSC).

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