BB&T Securities LLC Has $12.06 Million Stake in Norfolk Souther Corporation (NYSE:NSC)
BB&T Securities LLC raised its stake in Norfolk Souther Corporation (NYSE:NSC) by 15.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,752 shares of the railroad operator’s stock after buying an additional 14,697 shares during the period. BB&T Securities LLC’s holdings in Norfolk Souther Corporation were worth $12,064,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its position in Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock valued at $602,226,000 after buying an additional 4,859,355 shares during the period. Cadence Capital Management LLC raised its position in Norfolk Souther Corporation by 4.9% in the first quarter. Cadence Capital Management LLC now owns 33,703 shares of the railroad operator’s stock valued at $3,774,000 after buying an additional 1,562 shares during the period. Westpac Banking Corp raised its position in Norfolk Souther Corporation by 118.2% in the first quarter. Westpac Banking Corp now owns 42,932 shares of the railroad operator’s stock valued at $4,457,000 after buying an additional 23,252 shares during the period. Tredje AP fonden raised its stake in shares of Norfolk Souther Corporation by 101.3% in the first quarter. Tredje AP fonden now owns 39,811 shares of the railroad operator’s stock worth $4,458,000 after buying an additional 20,030 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Norfolk Souther Corporation during the first quarter worth $560,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.
Shares of Norfolk Souther Corporation (NYSE:NSC) traded up 1.14% during trading on Tuesday, reaching $117.21. The company had a trading volume of 1,886,730 shares. Norfolk Souther Corporation has a 12 month low of $87.97 and a 12 month high of $125.31. The stock has a market capitalization of $33.78 billion, a PE ratio of 19.05 and a beta of 1.33. The stock’s 50-day moving average price is $119.04 and its 200-day moving average price is $117.98.
Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. Norfolk Souther Corporation’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts forecast that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.
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NSC has been the topic of a number of recent research reports. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Wednesday, May 3rd. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $133.00 target price on shares of Norfolk Souther Corporation in a research note on Sunday, May 28th. Deutsche Bank AG downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their target price for the stock from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, TD Securities reiterated a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $112.17.
In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 1,427 shares of Norfolk Souther Corporation stock in a transaction on Friday, May 12th. The shares were sold at an average price of $116.92, for a total transaction of $166,844.84. Following the completion of the sale, the vice president now owns 5,102 shares of the company’s stock, valued at approximately $596,525.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 802 shares of Norfolk Souther Corporation stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $116.54, for a total transaction of $93,465.08. Following the sale, the vice president now directly owns 4,300 shares of the company’s stock, valued at approximately $501,122. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
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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