Parametric Portfolio Associates LLC Has $98.11 Million Position in Norfolk Souther Corporation (NSC)

Parametric Portfolio Associates LLC lifted its position in Norfolk Souther Corporation (NYSE:NSC) by 31.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 806,142 shares of the railroad operator’s stock after buying an additional 192,965 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.28% of Norfolk Souther Corporation worth $98,107,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NSC. D Orazio & Associates Inc. grew its stake in shares of Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after buying an additional 4 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Norfolk Souther Corporation by 12,069.6% in the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock valued at $102,000 after buying an additional 12,311 shares in the last quarter. AlphaMark Advisors LLC grew its stake in shares of Norfolk Souther Corporation by 20.7% in the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after buying an additional 150 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Norfolk Souther Corporation by 35.3% in the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock valued at $107,000 after buying an additional 250 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after buying an additional 220 shares in the last quarter. 70.60% of the stock is owned by institutional investors and hedge funds.

Norfolk Souther Corporation (NSC) opened at 130.00 on Wednesday. The company has a 50-day moving average price of $126.40 and a 200-day moving average price of $119.88. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $133.81. The firm has a market cap of $37.46 billion, a P/E ratio of 21.12 and a beta of 1.38.

Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. The business 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 firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 EPS. On average, equities research analysts forecast that Norfolk Souther Corporation will post $6.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors 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 dividend on an annualized basis and a yield of 1.88%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.

Norfolk Souther Corporation announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 26th that authorizes the company to buyback 50,000,000 outstanding shares. This buyback authorization authorizes the railroad operator to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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In related news, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total transaction of $35,640.00. Following the sale, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction dated Friday, August 25th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 27,077 shares of company stock worth $3,244,531 in the last three months. 0.36% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on NSC shares. Wolfe Research raised shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Monday, August 7th. Cowen and Company reaffirmed a “buy” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. UBS AG reaffirmed a “buy” rating and set a $133.00 price objective on shares of Norfolk Souther Corporation in a research report on Monday, August 14th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Deutsche Bank AG cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $132.00 to $104.00 in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. Norfolk Souther Corporation has an average rating of “Hold” and an average target price of $113.29.

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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Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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