Norfolk Southern Corp. (NSC) Shares Sold by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. lessened its stake in Norfolk Southern Corp. (NYSE:NSC) by 9.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,007 shares of the railroad operator’s stock after selling 495 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Norfolk Southern were worth $665,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Krilogy Financial LLC grew its holdings in shares of Norfolk Southern by 2.6% in the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after purchasing an additional 22 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Norfolk Southern by 20.7% in the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 150 shares during the last quarter. Harfst & Associates Inc. grew its holdings in shares of Norfolk Southern by 58.8% in the second quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after purchasing an additional 350 shares during the last quarter. QCI Asset Management Inc. NY grew its holdings in shares of Norfolk Southern by 0.5% in the second quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after purchasing an additional 5 shares during the last quarter. Finally, Live Your Vision LLC grew its holdings in shares of Norfolk Southern by 25.6% in the second quarter. Live Your Vision LLC now owns 1,130 shares of the railroad operator’s stock worth $128,000 after purchasing an additional 230 shares during the last quarter. 72.55% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Thomas E. Hurlbut sold 6,175 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $129.61, for a total value of $800,341.75. Following the sale, the vice president now directly owns 7,568 shares in the company, valued at approximately $980,888.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Joseph Wheeler sold 3,568 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $133.00, for a total transaction of $474,544.00. Following the completion of the sale, the chief operating officer now owns 15,837 shares in the company, valued at $2,106,321. The disclosure for this sale can be found here. Insiders sold a total of 12,113 shares of company stock worth $1,594,148 over the last 90 days. Company insiders own 0.36% of the company’s stock.

NSC has been the topic of a number of research analyst reports. Credit Suisse Group restated a “buy” rating and issued a $143.00 price target (up from $133.00) on shares of Norfolk Southern in a report on Thursday, October 12th. They noted that the move was a valuation call. Loop Capital cut shares of Norfolk Southern from a “hold” rating to a “sell” rating and set a $133.00 price target on the stock. in a report on Monday, November 27th. ValuEngine upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Royal Bank of Canada restated a “sell” rating and issued a $117.00 price target on shares of Norfolk Southern in a report on Tuesday, August 29th. Finally, Zacks Investment Research upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a report on Wednesday, November 1st. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $127.62.

Shares of Norfolk Southern Corp. (NYSE:NSC) traded down $0.09 during trading on Wednesday, reaching $141.46. 1,208,000 shares of the company’s stock traded hands, compared to its average volume of 1,763,770. 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 Southern Corp. has a one year low of $105.89 and a one year high of $142.76. The company has a market cap of $40,504.36, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.82 and a beta of 1.38.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.11. Norfolk Southern had a net margin of 17.86% and a return on equity of 14.72%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the business earned $1.55 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. research analysts predict that Norfolk Southern Corp. will post 6.48 earnings per share for the current year.

Norfolk Southern announced that its board has authorized a share 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 generally a sign that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 3rd were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Thursday, November 2nd. Norfolk Southern’s dividend payout ratio is currently 38.36%.

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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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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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