Murphy Capital Management Inc. Sells 30 Shares of Norfolk Souther Corporation (NYSE:NSC)
Murphy Capital Management Inc. decreased its position in Norfolk Souther Corporation (NYSE:NSC) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,940 shares of the railroad operator’s stock after selling 30 shares during the period. Murphy Capital Management Inc.’s holdings in Norfolk Souther Corporation were worth $1,453,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in NSC. Integrated Wealth Management raised its position in shares of Norfolk Souther Corporation by 2.4% in the first quarter. Integrated Wealth Management now owns 2,385 shares of the railroad operator’s stock worth $267,000 after buying an additional 55 shares during the period. Atria Investments LLC raised its position in shares of Norfolk Souther Corporation by 3.7% in the first quarter. Atria Investments LLC now owns 2,431 shares of the railroad operator’s stock worth $272,000 after buying an additional 87 shares during the period. Private Bank & Trust Co. raised its position in shares of Norfolk Souther Corporation by 0.5% in the first quarter. Private Bank & Trust Co. now owns 2,010 shares of the railroad operator’s stock worth $225,000 after buying an additional 10 shares during the period. TNB Financial purchased a new position in shares of Norfolk Souther Corporation during the first quarter worth $433,000. Finally, Regentatlantic Capital LLC raised its position in shares of Norfolk Souther Corporation by 6.8% in the first quarter. Regentatlantic Capital LLC now owns 10,781 shares of the railroad operator’s stock worth $1,207,000 after buying an additional 690 shares during the period. Institutional investors own 70.16% of the company’s stock.
Norfolk Souther Corporation (NSC) traded up 1.17% during midday trading on Friday, hitting $114.76. The company had a trading volume of 846,357 shares. Norfolk Souther Corporation has a 52 week low of $86.88 and a 52 week high of $125.31. The firm’s 50 day moving average is $119.52 and its 200-day moving average is $118.08. The firm has a market capitalization of $33.07 billion, a P/E ratio of 18.65 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.06. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. On average, equities research analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be paid a $0.61 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a yield of 2.15%. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
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A number of equities analysts have recently weighed in on the company. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group reiterated an “outperform” rating and set a $139.00 target price (up previously from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company reiterated a “buy” rating and set a $130.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Scotiabank lowered Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $111.35.
In related news, VP Thomas E. Hurlbut sold 1,427 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $116.92, for a total value of $166,844.84. Following the transaction, the vice president now owns 5,102 shares of the company’s stock, valued at $596,525.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas E. Hurlbut sold 802 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total value of $93,465.08. Following the completion of the transaction, the vice president now directly owns 4,300 shares in the company, valued at approximately $501,122. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
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.
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