Wesbanco Bank Inc. Continues to Hold Stake in Norfolk Souther Corporation (NSC)
Wesbanco Bank Inc. held its stake in shares of Norfolk Souther Corporation (NYSE:NSC) during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,900 shares of the railroad operator’s stock at the end of the fourth quarter. Wesbanco Bank Inc.’s holdings in Norfolk Souther Corporation were worth $1,502,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of NSC. Bank of New York Mellon Corp boosted its stake in shares of Norfolk Souther Corporation by 35.5% in the second quarter. Bank of New York Mellon Corp now owns 3,628,950 shares of the railroad operator’s stock worth $308,932,000 after buying an additional 951,665 shares during the last quarter. Standard Life Investments LTD purchased a new stake in shares of Norfolk Souther Corporation during the third quarter worth $63,284,000. Scopus Asset Management L.P. purchased a new stake in shares of Norfolk Souther Corporation during the third quarter worth $58,094,000. Atalanta Sosnoff Capital LLC purchased a new stake in shares of Norfolk Souther Corporation during the third quarter worth $41,516,000. Finally, Bridgeway Capital Management Inc. purchased a new stake in shares of Norfolk Souther Corporation during the second quarter worth $32,034,000. 70.02% of the stock is owned by institutional investors and hedge funds.
Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 122.93 on Friday. The stock has a market capitalization of $35.72 billion, a P/E ratio of 21.87 and a beta of 1.24. Norfolk Souther Corporation has a one year low of $72.01 and a one year high of $123.42. The firm’s 50-day moving average price is $115.77 and its 200-day moving average price is $101.59.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 25th. The railroad operator reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. Norfolk Souther Corporation had a return on equity of 13.53% and a net margin of 16.87%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Souther Corporation will post $6.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 3rd will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Wednesday, February 1st. Norfolk Souther Corporation’s dividend payout ratio is presently 43.42%.
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A number of equities research analysts have recently weighed in on NSC shares. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $96.00 price objective on shares of Norfolk Souther Corporation in a research note on Wednesday, October 26th. Seaport Global Securities started coverage on Norfolk Souther Corporation in a research note on Friday, October 28th. They issued a “buy” rating and a $101.00 price objective for the company. Aegis started coverage on Norfolk Souther Corporation in a research note on Monday, October 24th. They issued a “hold” rating for the company. Argus raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $91.60 to $104.00 in a research note on Wednesday, November 2nd. Finally, Robert W. Baird reaffirmed a “neutral” rating on shares of Norfolk Souther Corporation in a research note on Friday, January 20th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $97.93.
In other Norfolk Souther Corporation news, Chairman James A. Squires sold 34,417 shares of the stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $119.77, for a total transaction of $4,122,124.09. Following the transaction, the chairman now owns 81,658 shares of the company’s stock, valued at approximately $9,780,178.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William Andrew Galanko sold 5,934 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $119.13, for a total value of $706,917.42. Following the transaction, the senior vice president now directly owns 23,107 shares in the company, valued at approximately $2,752,736.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,162 shares of company stock worth $5,653,794. Corporate insiders own 0.66% of the company’s stock.
About Norfolk Souther Corporation
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 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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