Advantage Investment Management LLC increased its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 43.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,363 shares of the railroad operator’s stock after purchasing an additional 414 shares during the period. Advantage Investment Management LLC’s holdings in Norfolk Southern were worth $180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. D Orazio & Associates Inc. increased its holdings in Norfolk Southern by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after buying an additional 4 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in Norfolk Southern by 12,069.6% in the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock valued at $102,000 after buying an additional 12,311 shares in the last quarter. Krilogy Financial LLC increased its holdings in Norfolk Southern by 2.6% in the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after buying an additional 22 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in Norfolk Southern by 20.7% in the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after buying an additional 150 shares in the last quarter. Finally, Harfst & Associates Inc. increased its holdings in Norfolk Southern by 58.8% in the second quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock valued at $115,000 after buying an additional 350 shares in the last quarter. 72.55% of the stock is owned by hedge funds and other institutional investors.
Norfolk Southern Corp. (NSC) traded up $0.15 on Tuesday, reaching $140.04. 738,192 shares of the company were exchanged, compared to its average volume of 1,771,904. The firm has a market capitalization of $39,345.46, a price-to-earnings ratio of 21.62, a PEG ratio of 1.77 and a beta of 1.38. Norfolk Southern Corp. has a 52-week low of $105.16 and a 52-week high of $141.81. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 3rd will be given a dividend of $0.61 per share. The ex-dividend date is Thursday, November 2nd. This represents a $2.44 dividend on an annualized basis and a yield of 1.74%. Norfolk Southern’s payout ratio is presently 38.36%.
Norfolk Southern declared that its board has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the railroad operator to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have weighed in on NSC. Loop Capital cut shares of Norfolk Southern from a “hold” rating to a “sell” rating and set a $133.00 price objective for the company. in a report on Monday, November 27th. Goldman Sachs Group began coverage on shares of Norfolk Southern in a report on Monday, November 13th. They issued a “neutral” rating and a $126.00 price objective for the company. Robert W. Baird reaffirmed a “hold” rating and issued a $136.00 price objective on shares of Norfolk Southern in a report on Friday, November 10th. Zacks Investment Research cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Argus boosted their target price on shares of Norfolk Southern from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $127.62.
In related news, VP Thomas E. Hurlbut sold 2,370 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total transaction of $319,262.70. Following the transaction, the vice president now directly owns 6,370 shares in the company, valued at $858,102.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas E. Hurlbut sold 6,175 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $129.61, for a total transaction of $800,341.75. Following the transaction, the vice president now owns 7,568 shares in the company, valued at $980,888.48. The disclosure for this sale can be found here. Insiders have sold 12,113 shares of company stock worth $1,594,148 over the last 90 days. 0.36% of the stock is currently owned by company insiders.
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Norfolk Southern 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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