Burney Co. Has $1.22 Million Position in Norfolk Souther Corporation (NYSE:NSC)
Burney Co. decreased its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,880 shares of the railroad operator’s stock after selling 85 shares during the period. Burney Co.’s holdings in Norfolk Souther Corporation were worth $1,218,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Luminus Management LLC bought a new stake in shares of Norfolk Souther Corporation during the fourth quarter worth approximately $123,732,000. First Manhattan Co. boosted its stake in shares of Norfolk Souther Corporation by 16.6% in the first quarter. First Manhattan Co. now owns 12,984 shares of the railroad operator’s stock worth $1,260,000 after buying an additional 1,848 shares during the period. USA Financial Portformulas Corp acquired a new position in Norfolk Souther Corporation during the fourth quarter valued at $3,171,000. Pillar Pacific Capital Management LLC raised its position in Norfolk Souther Corporation by 0.9% in the first quarter. Pillar Pacific Capital Management LLC now owns 58,450 shares of the railroad operator’s stock valued at $6,544,000 after buying an additional 520 shares in the last quarter. Finally, Lee Danner & Bass Inc. raised its position in Norfolk Souther Corporation by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock valued at $257,000 after buying an additional 7 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.
Norfolk Souther Corporation (NYSE:NSC) traded up 1.14% during trading on Tuesday, reaching $117.21. 1,886,730 shares of the company traded hands. The firm has a 50-day moving average price of $119.04 and a 200-day moving average price of $117.98. The company has a market capitalization of $33.78 billion, a P/E ratio of 19.05 and a beta of 1.33. Norfolk Souther Corporation has a 52 week low of $87.97 and a 52 week high of $125.31.
Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. Analysts forecast that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.
NSC has been the topic of a number of research reports. Cowen and Company restated a “buy” rating and issued a $130.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research report on Tuesday, June 13th. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. UBS AG reiterated a “buy” rating and issued a $138.00 price target (up from $135.00) on shares of Norfolk Souther Corporation in a research note on Friday, April 28th. Finally, Deutsche Bank AG increased their price objective on Norfolk Souther Corporation from $126.00 to $132.00 and gave the company a “buy” rating in a report on Friday, April 28th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $112.17.
In other news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the completion of the sale, the vice president now owns 4,300 shares of the company’s stock, valued at $501,122. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Hurlbut sold 1,427 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $116.92, for a total transaction of $166,844.84. Following the sale, the vice president now directly owns 5,102 shares of the company’s stock, valued at approximately $596,525.84. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
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.
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