Radnor Capital Management LLC Holds Holdings in Norfolk Souther Corporation (NSC)
Radnor Capital Management LLC continued to hold its position in shares of Norfolk Souther Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,395 shares of the railroad operator’s stock at the close of the 2nd quarter. Radnor Capital Management LLC’s holdings in Norfolk Souther Corporation were worth $1,143,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of NSC. BlackRock Inc. boosted its holdings in shares of Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock valued at $2,189,172,000 after acquiring an additional 18,928,598 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock valued at $602,226,000 after acquiring an additional 4,859,355 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock valued at $471,313,000 after acquiring an additional 1,016,319 shares during the period. Investec Asset Management LTD acquired a new stake in shares of Norfolk Souther Corporation in the first quarter valued at approximately $92,710,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock valued at $208,626,000 after acquiring an additional 492,922 shares during the period. 70.60% of the stock is owned by institutional investors and hedge funds.
In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the transaction, the vice president now owns 4,000 shares in the company, valued at approximately $475,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total value of $2,927,619.65. Following the transaction, the chairman now owns 76,481 shares of the company’s stock, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. Insiders have sold a total of 27,077 shares of company stock valued at $3,244,531 in the last quarter. 0.36% of the stock is currently owned by insiders.
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 report on Friday, June 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $133.00 price objective (down from $139.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “sell” rating and issued a $117.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, August 29th. Deutsche Bank AG downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the company from $132.00 to $104.00 in a 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 report on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $115.00.
Norfolk Souther Corporation (NYSE:NSC) opened at 130.36 on Tuesday. The stock has a market cap of $37.57 billion, a PE ratio of 21.18 and a beta of 1.32. The firm has a 50-day moving average price of $120.17 and a 200 day moving average price of $118.29. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $131.41.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts anticipate that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 7th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a yield of 1.86%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.
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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