DF Dent & Co. Inc. Takes $280,000 Position in Norfolk Souther Corporation (NSC)

DF Dent & Co. Inc. purchased a new position in shares of Norfolk Souther Corporation (NYSE:NSC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,299 shares of the railroad operator’s stock, valued at approximately $280,000.

Several other institutional investors also recently made changes to their positions in the company. D Orazio & Associates Inc. raised its position in shares of Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after purchasing an additional 4 shares during the period. QCI Asset Management Inc. NY raised its position in shares of Norfolk Souther Corporation by 0.5% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after purchasing an additional 5 shares during the period. Alexandria Capital LLC raised its position in shares of Norfolk Souther Corporation by 0.4% during the 2nd quarter. Alexandria Capital LLC now owns 1,865 shares of the railroad operator’s stock worth $227,000 after purchasing an additional 7 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of Norfolk Souther Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock worth $126,000 after purchasing an additional 8 shares during the period. Finally, Ronna Sue Cohen raised its position in shares of Norfolk Souther Corporation by 0.5% during the 2nd quarter. Ronna Sue Cohen now owns 2,761 shares of the railroad operator’s stock worth $336,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 70.45% of the company’s stock.

Norfolk Souther Corporation (NSC) opened at 132.75 on Friday. The stock’s 50 day moving average price is $129.13 and its 200 day moving average price is $120.82. The firm has a market capitalization of $38.26 billion, a PE ratio of 21.57 and a beta of 1.38. Norfolk Souther Corporation has a 12 month low of $89.95 and a 12 month high of $134.52.

Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion during 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 for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. Equities research analysts expect that Norfolk Souther Corporation will post $6.36 earnings per share for the current fiscal year.

Norfolk Souther Corporation announced that its Board of Directors has approved a stock repurchase plan on Tuesday, September 26th that allows the company to buyback 50,000,000 shares. This buyback authorization allows the railroad operator to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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NSC has been the topic of a number of research reports. Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target on the stock in a research report on Monday, August 7th. Cowen and Company reiterated a “buy” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. UBS AG reiterated a “buy” rating and set a $133.00 price target on shares of Norfolk Souther Corporation in a research report on Monday, August 14th. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Credit Suisse Group reiterated a “buy” rating and set a $143.00 price target (up from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, October 12th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $118.88.

In other Norfolk Souther Corporation news, COO Michael Joseph Wheeler sold 2,370 shares of the company’s stock in a transaction on Friday, August 25th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the sale, 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. Corporate 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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Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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