Mn Services Vermogensbeheer B.V. Buys 39,422 Shares of Norfolk Souther Corporation (NSC)
Mn Services Vermogensbeheer B.V. increased its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 506.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 47,208 shares of the railroad operator’s stock after buying an additional 39,422 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Norfolk Souther Corporation were worth $5,745,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. D Orazio & Associates Inc. raised 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. MCF Advisors LLC raised its stake in shares of Norfolk Souther Corporation by 31.4% in the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock valued at $106,000 after buying an additional 227 shares in the last quarter. Parkside Financial Bank & Trust raised 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. Parallel Advisors LLC raised 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. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Norfolk Souther Corporation during the first quarter valued at approximately $125,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.
Norfolk Souther Corporation (NSC) traded up 0.40% on Friday, reaching $118.21. 989,767 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $118.32 and a 200-day moving average of $118.11. Norfolk Souther Corporation has a 12-month low of $89.92 and a 12-month high of $125.31. The company has a market cap of $34.07 billion, a P/E ratio of 19.21 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ 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 quarter in the prior year, the firm earned $1.36 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s payout ratio is 39.61%.
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Several brokerages have recently commented on NSC. Scotiabank lowered Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a report on Tuesday, June 27th. Stifel Nicolaus increased their price objective on Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a report on Monday, May 1st. Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Monday, August 7th. Finally, Cowen and Company reiterated a “buy” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. Norfolk Souther Corporation has an average rating of “Hold” and a consensus price target of $112.35.
In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the sale, the chairman now owns 76,481 shares of the company’s stock, valued at approximately $9,173,895.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
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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