Garrison Bradford & Associates Inc. Continues to Hold Stake in Norfolk Souther Corporation (NSC)

Garrison Bradford & Associates Inc. maintained its position in Norfolk Souther Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the railroad operator’s stock at the close of the 2nd quarter. Garrison Bradford & Associates Inc.’s holdings in Norfolk Souther Corporation were worth $304,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NSC. BlackRock Inc. grew its position in shares of Norfolk Souther Corporation by 3,039.1% during the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock worth $2,189,172,000 after buying an additional 18,928,598 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Norfolk Souther Corporation by 936.1% during the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Norfolk Souther Corporation by 31.8% during the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after buying an additional 1,016,319 shares in the last quarter. Investec Asset Management LTD acquired a new stake in shares of Norfolk Souther Corporation during the first quarter worth approximately $92,710,000. Finally, Ameriprise Financial Inc. grew its position in shares of Norfolk Souther Corporation by 36.0% during 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. 70.64% of the stock is owned by institutional investors and hedge funds.

Shares of Norfolk Souther Corporation (NYSE NSC) opened at 128.04 on Friday. The company has a market capitalization of $36.90 billion, a PE ratio of 20.81 and a beta of 1.32. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $128.09. The firm has a 50-day moving average price of $119.36 and a 200-day moving average price of $118.26.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 7th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.

In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the company’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 sale, the chairman now directly owns 76,481 shares in the company, valued at $9,173,895.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the sale, the vice president now owns 4,000 shares in the company, valued at $475,200. The disclosure for this sale can be found here. Insiders sold 27,077 shares of company stock worth $3,244,531 over the last quarter. Company insiders own 0.36% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Garrison Bradford & Associates Inc. Continues to Hold Stake in Norfolk Souther Corporation (NSC)” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.chaffeybreeze.com/2017/09/16/garrison-bradford-associates-inc-continues-to-hold-stake-in-norfolk-souther-corporation-nsc.html.

NSC has been the subject of a number of recent analyst reports. ValuEngine raised 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 $133.00 price target on shares of Norfolk Souther Corporation in a research report on Sunday, May 28th. Royal Bank Of Canada reissued a “sell” rating and set a $117.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Deutsche Bank AG downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and decreased their price target 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 set a $124.00 price target (up previously from $122.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. Norfolk Souther Corporation has a consensus rating of “Hold” and an average price target of $115.00.

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.

Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

Receive News & Ratings for Norfolk Souther Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Souther Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply