Stratos Wealth Partners LTD. lifted its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 26.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,421 shares of the railroad operator’s stock after purchasing an additional 3,017 shares during the period. Stratos Wealth Partners LTD.’s holdings in Norfolk Souther Corporation were worth $1,907,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of NSC. BB&T Investment Services Inc. purchased a new stake in Norfolk Souther Corporation in the 2nd quarter worth approximately $287,000. Korea Investment CORP grew its stake in Norfolk Souther Corporation by 7.8% in the 2nd quarter. Korea Investment CORP now owns 269,011 shares of the railroad operator’s stock worth $32,739,000 after acquiring an additional 19,485 shares during the period. Israel Discount Bank of New York purchased a new stake in Norfolk Souther Corporation in the 1st quarter worth approximately $456,000. Curbstone Financial Management Corp grew its stake in Norfolk Souther Corporation by 106.1% in the 3rd quarter. Curbstone Financial Management Corp now owns 8,298 shares of the railroad operator’s stock worth $1,097,000 after acquiring an additional 4,271 shares during the period. Finally, Airain ltd purchased a new stake in Norfolk Souther Corporation in the 2nd quarter worth approximately $2,410,000. 70.88% of the stock is owned by institutional investors and hedge funds.
In related news, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at $475,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at $1,601,230.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,238 shares of company stock valued at $791,456. Company insiders own 0.36% of the company’s stock.
Several analysts have commented on the stock. BidaskClub raised shares of Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Norfolk Souther Corporation in a research note on Monday. They set a “neutral” rating and a $126.00 price objective for the company. UBS AG reissued a “buy” rating and set a $133.00 price objective on shares of Norfolk Souther Corporation in a research note on Monday, August 14th. Cowen and Company reissued an “outperform” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Finally, Wolfe Research raised shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price objective for the company in a research note on Monday, August 7th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company. Norfolk Souther Corporation has an average rating of “Hold” and an average target price of $127.62.
Norfolk Souther Corporation (NSC) traded down $0.56 during midday trading on Thursday, reaching $126.42. 1,345,300 shares of the company’s stock traded hands, compared to its average volume of 1,776,089. The company has a market cap of $36,335.18, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37. Norfolk Souther Corporation has a 1 year low of $102.59 and a 1 year high of $134.52. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.73.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 EPS. equities research analysts anticipate that Norfolk Souther Corporation will post 6.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 3rd will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, November 2nd. Norfolk Souther Corporation’s dividend payout ratio is currently 38.36%.
Norfolk Souther Corporation announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the railroad operator to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
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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