Meiji Yasuda Life Insurance Co purchased a new stake in Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,000 shares of the railroad operator’s stock, valued at approximately $224,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in Norfolk Souther Corporation during the fourth quarter worth $319,047,000. Ameriprise Financial Inc. boosted its position in 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 worth $208,626,000 after buying an additional 492,922 shares in the last quarter. American Century Companies Inc. boosted its position in Norfolk Souther Corporation by 34.7% in the first quarter. American Century Companies Inc. now owns 1,459,919 shares of the railroad operator’s stock worth $163,467,000 after buying an additional 375,745 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Norfolk Souther Corporation by 35.6% in the fourth quarter. AQR Capital Management LLC now owns 1,233,946 shares of the railroad operator’s stock worth $133,353,000 after buying an additional 323,839 shares during the last quarter. Finally, Luminus Management LLC acquired a new position in shares of Norfolk Souther Corporation during the fourth quarter worth about $123,732,000. 70.18% of the stock is owned by hedge funds and other institutional investors.
Norfolk Souther Corporation (NYSE NSC) traded up 1.08% during trading on Friday, hitting $114.23. The company had a trading volume of 1,656,332 shares. Norfolk Souther Corporation has a 12-month low of $86.88 and a 12-month high of $125.31. The firm has a 50-day moving average of $119.90 and a 200 day moving average of $117.94. The company has a market capitalization of $32.92 billion, a price-to-earnings ratio of 18.56 and a beta of 1.35.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results 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 firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $1.36 EPS. On average, equities research analysts forecast that Norfolk Souther Corporation will post $6.33 earnings per share for the current year.
The company 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 $0.61 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.14%. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
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NSC has been the topic of a number of recent analyst reports. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Deutsche Bank AG upped their price target on Norfolk Souther Corporation from $126.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, April 28th. UBS AG reissued a “buy” rating and set a $138.00 price target (up from $135.00) on shares of Norfolk Souther Corporation in a research report on Friday, April 28th. Stifel Nicolaus upped their price target on Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Wednesday, May 3rd. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Norfolk Souther Corporation currently has an average rating of “Hold” and an average target price of $113.00.
In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 1,427 shares of Norfolk Souther Corporation stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $116.92, for a total transaction of $166,844.84. Following the completion of the transaction, the vice president now owns 5,102 shares in the company, valued at approximately $596,525.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas E. Hurlbut sold 802 shares of Norfolk Souther Corporation stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $116.54, for a total value of $93,465.08. Following the transaction, the vice president now owns 4,300 shares of the company’s stock, valued at approximately $501,122. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
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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