AlphaMark Advisors LLC Has $106,000 Position in Norfolk Souther Corporation (NSC)
AlphaMark Advisors LLC raised its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 875 shares of the railroad operator’s stock after purchasing an additional 150 shares during the period. AlphaMark Advisors LLC’s holdings in Norfolk Souther Corporation were worth $106,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Lee Danner & Bass Inc. raised its position in Norfolk Souther Corporation by 0.3% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock worth $257,000 after purchasing an additional 7 shares during the last quarter. Korea Investment CORP raised its position in Norfolk Souther Corporation by 7.8% during the 2nd quarter. Korea Investment CORP now owns 269,011 shares of the railroad operator’s stock worth $32,739,000 after purchasing an additional 19,485 shares during the last quarter. Israel Discount Bank of New York bought a new position in Norfolk Souther Corporation during the 1st quarter worth $456,000. Eagle Ridge Investment Management raised its position in Norfolk Souther Corporation by 3.2% during the 1st quarter. Eagle Ridge Investment Management now owns 72,634 shares of the railroad operator’s stock worth $8,133,000 after purchasing an additional 2,236 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC raised its position in Norfolk Souther Corporation by 1.2% during the 2nd quarter. Pillar Pacific Capital Management LLC now owns 59,165 shares of the railroad operator’s stock worth $7,200,000 after purchasing an additional 715 shares during the last quarter. 70.60% of the stock is owned by institutional investors and hedge funds.
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In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the sale, the vice president now owns 4,000 shares in the company, valued at $475,200. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $118.68, for a total transaction of $281,271.60. Following the completion of the sale, the chief operating officer now owns 13,492 shares in the company, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,077 shares of company stock worth $3,244,531. Corporate insiders own 0.36% of the company’s stock.
NSC has been the subject of several research analyst reports. ValuEngine raised 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 issued a $133.00 price objective on shares of Norfolk Souther Corporation in a research report on Sunday, May 28th. Royal Bank Of Canada reissued a “sell” rating and issued a $117.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Deutsche Bank AG lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $132.00 to $104.00 in a research report on Monday, July 31st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $124.00 price objective (up from $122.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 27th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $115.00.
Norfolk Souther Corporation (NYSE:NSC) opened at 130.99 on Friday. The firm has a market cap of $37.75 billion, a P/E ratio of 21.29 and a beta of 1.32. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $131.15. The firm’s 50-day moving average price is $120.17 and its 200-day moving average price is $118.29.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. The business 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 revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. Equities research analysts anticipate that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 7th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.
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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