State of Wisconsin Investment Board grew its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 31.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 246,499 shares of the railroad operator’s stock after purchasing an additional 58,850 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.09% of Norfolk Souther Corporation worth $29,999,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the business. Dowling & Yahnke LLC grew its holdings in shares of Norfolk Souther Corporation by 10.8% during the second quarter. Dowling & Yahnke LLC now owns 2,305 shares of the railroad operator’s stock worth $281,000 after purchasing an additional 224 shares during the last quarter. Denver Investment Advisors LLC grew its holdings in shares of Norfolk Souther Corporation by 0.5% during the second quarter. Denver Investment Advisors LLC now owns 4,479 shares of the railroad operator’s stock worth $545,000 after purchasing an additional 21 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Norfolk Souther Corporation during the second quarter worth about $978,000. Savant Capital LLC grew its holdings in shares of Norfolk Souther Corporation by 0.5% during the second quarter. Savant Capital LLC now owns 5,627 shares of the railroad operator’s stock worth $685,000 after purchasing an additional 28 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. grew its holdings in shares of Norfolk Souther Corporation by 1.7% during the second quarter. Pinnacle Financial Partners Inc. now owns 5,258 shares of the railroad operator’s stock worth $640,000 after purchasing an additional 90 shares during the last quarter. 70.64% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on the company. Cowen and Company reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $124.00 price objective (up previously from $122.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Zacks Investment Research lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Deutsche Bank AG lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $132.00 to $104.00 in a report on Monday, July 31st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $139.00 price objective (up previously from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 13th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $112.59.
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Norfolk Souther Corporation (NSC) opened at 126.42 on Tuesday. The stock’s 50 day moving average is $117.91 and its 200-day moving average is $117.98. The stock has a market capitalization of $36.43 billion, a PE ratio of 20.54 and a beta of 1.32. Norfolk Souther Corporation has a 52 week low of $89.92 and a 52 week high of $126.42.
Norfolk Souther Corporation (NYSE:NSC) last released 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. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the business earned $1.36 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Norfolk Souther Corporation will post $6.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 7th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
In related news, 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 completion of the sale, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at $1,601,230.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at $475,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,077 shares of company stock valued at $3,244,531. Company insiders own 0.36% of the company’s stock.
Norfolk Souther Corporation 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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