Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in Norfolk Souther Corporation (NYSE:NSC) by 14.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 40,370 shares of the railroad operator’s stock after selling 6,941 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Norfolk Souther Corporation were worth $4,913,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in NSC. ING Groep NV grew its stake in Norfolk Souther Corporation by 202.8% in the first quarter. ING Groep NV now owns 14,877 shares of the railroad operator’s stock valued at $1,666,000 after acquiring an additional 9,964 shares during the period. Tyers Asset Management LLC grew its stake in Norfolk Souther Corporation by 78.6% in the first quarter. Tyers Asset Management LLC now owns 17,344 shares of the railroad operator’s stock valued at $1,942,000 after acquiring an additional 7,632 shares during the period. Eqis Capital Management Inc. acquired a new stake in Norfolk Souther Corporation in the first quarter valued at approximately $278,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Norfolk Souther Corporation by 4.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 847,960 shares of the railroad operator’s stock valued at $94,946,000 after acquiring an additional 34,354 shares during the period. Finally, Pillar Pacific Capital Management LLC grew its stake in Norfolk Souther Corporation by 0.9% in the first quarter. Pillar Pacific Capital Management LLC now owns 58,450 shares of the railroad operator’s stock valued at $6,544,000 after acquiring an additional 520 shares during the period. 70.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 130.98 on Thursday. The stock has a market capitalization of $37.75 billion, a P/E ratio of 21.28 and a beta of 1.32. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $131.02. 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 (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.06. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 EPS. On average, analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were issued a dividend of $0.61 per share. The ex-dividend date was Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 1.86%. Norfolk Souther Corporation’s payout ratio is 39.61%.
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In other news, VP Thomas E. Hurlbut sold 300 shares of the 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 transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $118.68, for a total value of $281,271.60. Following the transaction, the chief operating officer now directly owns 13,492 shares in the company, valued at $1,601,230.56. The disclosure for this sale can be found here. Insiders have sold a total of 27,077 shares of company stock worth $3,244,531 over the last three months. Insiders own 0.36% of the company’s stock.
A number of equities research analysts have commented on NSC shares. Cowen and Company reissued a “buy” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a report on Tuesday, June 13th. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Monday, August 7th. Finally, UBS AG restated a “buy” rating and issued a $133.00 target price on shares of Norfolk Souther Corporation in a report on Monday, August 14th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. Norfolk Souther Corporation presently has a consensus rating of “Hold” and an average price target of $115.00.
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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