IFM Investors Pty Ltd bought a new stake in Norfolk Southern Corp. (NYSE:NSC) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,124 shares of the railroad operator’s stock, valued at approximately $1,074,000.
Other institutional investors also recently modified their holdings of the company. Harbour Capital Advisors LLC boosted its holdings in shares of Norfolk Southern 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 acquiring an additional 12,311 shares in the last quarter. Krilogy Financial LLC boosted its holdings in shares of Norfolk Southern by 2.6% in the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after acquiring an additional 22 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of Norfolk Southern 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 acquiring an additional 150 shares in the last quarter. Harfst & Associates Inc. boosted its holdings in shares of Norfolk Southern by 58.8% in the second quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock valued at $115,000 after acquiring an additional 350 shares in the last quarter. Finally, Live Your Vision LLC boosted its holdings in shares of Norfolk Southern by 25.6% in the second quarter. Live Your Vision LLC now owns 1,130 shares of the railroad operator’s stock valued at $128,000 after acquiring an additional 230 shares in the last quarter. Institutional investors and hedge funds own 72.55% of the company’s stock.
Norfolk Southern Corp. (NSC) traded up $0.37 during trading on Thursday, hitting $141.83. 1,425,500 shares of the stock were exchanged, compared to its average volume of 1,762,361. The company has a market cap of $40,580.00, a P/E ratio of 22.24, a P/E/G ratio of 1.82 and a beta of 1.38. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73. Norfolk Southern Corp. has a fifty-two week low of $105.89 and a fifty-two week high of $143.35.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. Norfolk Southern had a net margin of 17.86% and a return on equity of 14.72%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the business posted $1.55 EPS. Norfolk Southern’s revenue was up 5.8% compared to the same quarter last year. equities research analysts anticipate that Norfolk Southern Corp. will post 6.48 EPS for the current year.
Norfolk Southern announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 26th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the railroad operator to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 3rd were given a $0.61 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $2.44 annualized dividend and a yield of 1.72%. Norfolk Southern’s dividend payout ratio is 38.79%.
In other Norfolk Southern news, COO Michael Joseph Wheeler sold 3,568 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $133.00, for a total value of $474,544.00. Following the sale, the chief operating officer now directly owns 15,837 shares in the company, valued at approximately $2,106,321. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas E. Hurlbut sold 6,175 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $129.61, for a total transaction of $800,341.75. Following the completion of the sale, the vice president now owns 7,568 shares in the company, valued at $980,888.48. The disclosure for this sale can be found here. Insiders sold a total of 12,113 shares of company stock worth $1,594,148 over the last 90 days. Company insiders own 0.36% of the company’s stock.
Several research firms have recently issued reports on NSC. Loop Capital cut shares of Norfolk Southern from a “hold” rating to a “sell” rating and set a $133.00 price objective for the company. in a report on Monday, November 27th. Goldman Sachs Group assumed coverage on shares of Norfolk Southern in a report on Monday, November 13th. They set a “neutral” rating and a $126.00 target price for the company. Robert W. Baird restated a “hold” rating and set a $136.00 target price on shares of Norfolk Southern in a report on Friday, November 10th. Zacks Investment Research cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Argus raised their target price on shares of Norfolk Southern from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $127.62.
Norfolk Southern 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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