Stewart & Patten Co. LLC lowered its stake in Norfolk Souther Corporation (NYSE:NSC) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,750 shares of the railroad operator’s stock after selling 800 shares during the period. Stewart & Patten Co. LLC’s holdings in Norfolk Souther Corporation were worth $1,430,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NSC. D Orazio & Associates Inc. boosted its stake in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after buying an additional 4 shares during the period. MCF Advisors LLC boosted its stake in Norfolk Souther Corporation by 31.4% in the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock worth $106,000 after buying an additional 227 shares during the period. Parkside Financial Bank & Trust boosted its stake in Norfolk Souther Corporation by 35.3% in the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after buying an additional 250 shares during the period. Parallel Advisors LLC boosted its stake in Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after buying an additional 220 shares during the period. Finally, North Star Investment Management Corp. boosted its stake in Norfolk Souther Corporation by 5.0% in the second quarter. North Star Investment Management Corp. now owns 1,050 shares of the railroad operator’s stock worth $128,000 after buying an additional 50 shares during the period. 70.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Norfolk Souther Corporation (NSC) opened at 119.40 on Wednesday. The firm has a market cap of $34.41 billion, a price-to-earnings ratio of 19.40 and a beta of 1.33. The stock’s 50 day moving average is $118.32 and its 200 day moving average is $118.11. Norfolk Souther Corporation has a 12-month low of $89.92 and a 12-month high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the business posted $1.36 earnings per share. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts expect that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 annualized dividend and a yield of 2.04%. Norfolk Souther Corporation’s payout ratio is presently 39.61%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/30/stewart-patten-co-llc-has-1-43-million-stake-in-norfolk-souther-corporation-nsc.html.

A number of research firms have issued reports on NSC. Scotiabank cut shares of Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Tuesday, June 27th. Wolfe Research upgraded shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target for the company in a report on Monday, August 7th. Royal Bank Of Canada restated a “sell” rating and set a $117.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday. Finally, Cowen and Company restated a “buy” rating and set a $130.00 price target 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 assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $112.59.

In other news, COO Michael Joseph Wheeler sold 2,370 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $118.68, for a total value of $281,271.60. Following the completion of the sale, the chief operating officer now directly owns 13,492 shares in the company, valued at approximately $1,601,230.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The disclosure for this sale can be found here. 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.

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

Receive News & Stock Ratings for Norfolk Souther Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Souther Corporation and related stocks with our FREE daily email newsletter.