Norfolk Souther Corporation (NSC) Holdings Cut by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. decreased its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,499 shares of the railroad operator’s stock after selling 844 shares during the period. Norfolk Souther Corporation makes up about 1.6% of Lowe Brockenbrough & Co. Inc.’s holdings, making the stock its 14th biggest position. Lowe Brockenbrough & Co. Inc.’s holdings in Norfolk Souther Corporation were worth $10,116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. D Orazio & Associates Inc. increased 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 worth $100,000 after purchasing an additional 4 shares during the period. QCI Asset Management Inc. NY boosted its stake in shares of Norfolk Souther Corporation by 0.5% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after acquiring an additional 5 shares in the last quarter. Alexandria Capital LLC boosted its stake in shares of Norfolk Souther Corporation by 0.4% during the 2nd quarter. Alexandria Capital LLC now owns 1,865 shares of the railroad operator’s stock worth $227,000 after acquiring an additional 7 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Norfolk Souther Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock worth $126,000 after acquiring an additional 8 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in shares of Norfolk Souther Corporation by 0.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 2,090 shares of the railroad operator’s stock worth $255,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 70.88% of the company’s stock.

In other Norfolk Souther Corporation news, COO Michael Joseph Wheeler sold 3,568 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $133.00, for a total value of $474,544.00. Following the completion of the transaction, the chief operating officer now directly owns 15,837 shares of the company’s stock, valued at approximately $2,106,321. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at $475,200. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,238 shares of company stock valued at $791,456. 0.36% of the stock is currently owned by corporate insiders.

Shares of Norfolk Souther Corporation (NYSE:NSC) traded down $1.39 during midday trading on Friday, reaching $127.84. The company had a trading volume of 615,923 shares, compared to its average volume of 1,420,000. Norfolk Souther Corporation has a 52-week low of $102.59 and a 52-week high of $134.52. The firm has a market cap of $36,580.00, a P/E ratio of 19.88, a P/E/G ratio of 1.63 and a beta of 1.37. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.73.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The company had revenue of $2.67 billion during 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 for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 EPS. equities analysts predict that Norfolk Souther Corporation will post 6.48 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders 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 dividend on an annualized basis and a yield of 1.91%. Norfolk Souther Corporation’s payout ratio is currently 38.79%.

Norfolk Souther Corporation declared that its board has authorized a share repurchase plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the railroad operator to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

COPYRIGHT VIOLATION WARNING: This news story was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://www.com-unik.info/2017/11/17/norfolk-souther-corporation-nsc-holdings-cut-by-lowe-brockenbrough-co-inc.html.

Several brokerages have recently commented on NSC. Wolfe Research raised Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Monday, August 7th. ValuEngine lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. UBS AG reaffirmed a “buy” rating and issued a $133.00 target price on shares of Norfolk Souther Corporation in a research note on Monday, August 14th. BidaskClub lowered Norfolk Souther Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $127.62.

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