Norfolk Souther Corporation (NSC) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. boosted its stake in Norfolk Souther Corporation (NYSE:NSC) by 4.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 335,501 shares of the railroad operator’s stock after buying an additional 14,233 shares during the period. Russell Investments Group Ltd.’s holdings in Norfolk Souther Corporation were worth $40,832,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. Duff & Phelps Investment Management Co. purchased a new position in Norfolk Souther Corporation during the first quarter valued at $7,229,000. DnB Asset Management AS boosted its position in Norfolk Souther Corporation by 9.0% in the first quarter. DnB Asset Management AS now owns 32,743 shares of the railroad operator’s stock valued at $3,666,000 after buying an additional 2,700 shares during the last quarter. Somerset Trust Co boosted its position in Norfolk Souther Corporation by 1.9% in the first quarter. Somerset Trust Co now owns 13,021 shares of the railroad operator’s stock valued at $1,458,000 after buying an additional 245 shares during the last quarter. Berkshire Asset Management LLC PA boosted its position in Norfolk Souther Corporation by 4.7% in the first quarter. Berkshire Asset Management LLC PA now owns 91,187 shares of the railroad operator’s stock valued at $10,210,000 after buying an additional 4,071 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Norfolk Souther Corporation during the first quarter valued at $784,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.
Norfolk Souther Corporation (NYSE:NSC) traded up 1.36% on Friday, reaching $117.01. 583,464 shares of the company’s stock were exchanged. Norfolk Souther Corporation has a 12 month low of $87.97 and a 12 month high of $125.31. The firm has a market cap of $33.72 billion, a PE ratio of 19.01 and a beta of 1.33. The firm’s 50-day moving average is $118.80 and its 200-day moving average is $118.12.
Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. The company had revenue of $2.64 billion during 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%. Norfolk Souther Corporation’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. On average, equities analysts forecast that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th 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 2.11%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
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Several research firms have weighed in on NSC. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Credit Suisse Group reissued 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 reissued 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 shares of 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 shares of 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 nine have given a buy rating to the company’s stock. Norfolk Souther Corporation currently has an average rating of “Hold” and an average target price of $112.17.
In other news, VP Thomas E. Hurlbut sold 802 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the completion of the sale, the vice president now owns 4,300 shares in the company, valued at approximately $501,122. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.36% of the company’s stock.
Norfolk Souther Corporation Company 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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