Thomas E. Hurlbut Sells 300 Shares of Norfolk Souther Corporation (NSC) Stock
Norfolk Souther Corporation (NYSE:NSC) VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the transaction, the vice president now directly owns 4,000 shares in the company, valued at approximately $475,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Norfolk Souther Corporation (NYSE:NSC) traded up 1.11% during mid-day trading on Friday, hitting $121.86. The company had a trading volume of 213,947 shares. The stock’s 50 day moving average price is $117.96 and its 200 day moving average price is $118.07. Norfolk Souther Corporation has a 52-week low of $89.92 and a 52-week high of $125.31. The firm has a market cap of $35.12 billion, a P/E ratio of 19.80 and a beta of 1.33.
Norfolk Souther Corporation (NYSE:NSC) last released its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, equities research analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.
The firm 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. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.02%. Norfolk Souther Corporation’s payout ratio is currently 39.61%.
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Several research analysts have commented on NSC shares. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research report on Tuesday, June 27th. Credit Suisse Group reaffirmed an “outperform” rating and set a $139.00 price target (up previously from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 13th. They noted that the move was a valuation call. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Cowen and Company reaffirmed a “buy” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Finally, Scotiabank lowered Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, July 6th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $112.59.
Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new stake in Norfolk Souther Corporation during the first quarter worth about $168,000. Speece Thorson Capital Group Inc. raised its stake in Norfolk Souther Corporation by 2.8% in the first quarter. Speece Thorson Capital Group Inc. now owns 92,220 shares of the railroad operator’s stock worth $10,326,000 after buying an additional 2,548 shares during the last quarter. First Manhattan Co. raised its stake in 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 last quarter. GW Henssler & Associates Ltd. raised its stake in Norfolk Souther Corporation by 3.3% in the first quarter. GW Henssler & Associates Ltd. now owns 19,913 shares of the railroad operator’s stock worth $2,230,000 after buying an additional 632 shares during the last quarter. Finally, UMB Bank N A MO raised its stake in Norfolk Souther Corporation by 4.1% in the first quarter. UMB Bank N A MO now owns 16,809 shares of the railroad operator’s stock worth $1,882,000 after buying an additional 655 shares during the last quarter. Institutional investors own 70.63% 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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