Deprince Race & Zollo Inc. Cuts Stake in Norfolk Souther Corporation (NSC)

Deprince Race & Zollo Inc. lowered its holdings in Norfolk Souther Corporation (NYSE:NSC) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 213,585 shares of the railroad operator’s stock after selling 18,993 shares during the quarter. Deprince Race & Zollo Inc. owned 0.07% of Norfolk Souther Corporation worth $25,993,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. D Orazio & Associates Inc. boosted its holdings in Norfolk Souther Corporation by 0.5% during the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after buying an additional 4 shares in the last quarter. Harbour Capital Advisors LLC boosted its holdings in Norfolk Souther Corporation by 12,069.6% during the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after buying an additional 12,311 shares in the last quarter. MCF Advisors LLC boosted its holdings in Norfolk Souther Corporation by 31.4% during the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock worth $106,000 after buying an additional 227 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Norfolk Souther Corporation by 35.3% during the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after buying an additional 250 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Norfolk Souther Corporation by 29.2% during the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 70.64% of the company’s stock.

A number of brokerages recently issued reports on NSC. Stifel Nicolaus reissued a “hold” rating and set a $124.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Royal Bank Of Canada reissued a “sell” rating and set a $117.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday, August 29th. UBS AG reissued a “buy” rating and set a $133.00 price target on shares of Norfolk Souther Corporation in a report on Monday, August 14th. Finally, BidaskClub raised shares of Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $113.88.

In related news, COO Michael Joseph Wheeler sold 2,370 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $118.68, for a total value of $281,271.60. Following the sale, the chief operating officer now directly owns 13,492 shares in the company, valued at approximately $1,601,230.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now owns 76,481 shares in the company, valued at $9,173,895.95. The disclosure for this sale can be found here. Insiders sold a total of 27,077 shares of company stock worth $3,244,531 over the last quarter. Insiders own 0.36% of the company’s stock.

Norfolk Souther Corporation (NYSE:NSC) opened at 126.58 on Wednesday. Norfolk Souther Corporation has a 1-year low of $89.92 and a 1-year high of $126.98. The stock has a market capitalization of $36.48 billion, a P/E ratio of 20.57 and a beta of 1.32. The stock has a 50 day moving average of $118.15 and a 200 day moving average of $118.04.

Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts expect that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 7th were given a $0.61 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 1.93%. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.

TRADEMARK VIOLATION WARNING: “Deprince Race & Zollo Inc. Cuts Stake in Norfolk Souther Corporation (NSC)” was first reported by Markets Daily and is owned by of Markets Daily. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.themarketsdaily.com/2017/09/13/deprince-race-zollo-inc-cuts-stake-in-norfolk-souther-corporation-nsc.html.

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.

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