Alpha Omega Wealth Management LLC Acquires 361 Shares of Norfolk Souther Corporation (NSC)
Alpha Omega Wealth Management LLC raised its holdings in Norfolk Souther Corporation (NYSE:NSC) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,562 shares of the railroad operator’s stock after acquiring an additional 361 shares during the period. Norfolk Souther Corporation makes up approximately 1.7% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 17th largest position. Alpha Omega Wealth Management LLC’s holdings in Norfolk Souther Corporation were worth $3,233,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Pillar Pacific Capital Management LLC raised its holdings in Norfolk Souther Corporation by 0.9% in the 1st quarter. Pillar Pacific Capital Management LLC now owns 58,450 shares of the railroad operator’s stock valued at $6,544,000 after acquiring an additional 520 shares during the last quarter. Lee Danner & Bass Inc. raised its holdings in Norfolk Souther Corporation by 0.3% in the 1st quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock valued at $257,000 after acquiring an additional 7 shares during the last quarter. Israel Discount Bank of New York acquired a new stake in Norfolk Souther Corporation in the 1st quarter valued at about $456,000. Korea Investment CORP raised its holdings in Norfolk Souther Corporation by 7.8% in the 2nd quarter. Korea Investment CORP now owns 269,011 shares of the railroad operator’s stock valued at $32,739,000 after acquiring an additional 19,485 shares during the last quarter. Finally, Tyers Asset Management LLC raised its holdings in Norfolk Souther Corporation by 78.6% in the 1st quarter. Tyers Asset Management LLC now owns 17,344 shares of the railroad operator’s stock valued at $1,942,000 after acquiring an additional 7,632 shares during the last quarter. Institutional investors own 70.60% of the company’s stock.
In other Norfolk Souther Corporation 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 transaction 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 $1,601,230.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 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 have sold 27,077 shares of company stock valued at $3,244,531 in the last ninety days. 0.36% of the stock is currently owned by company insiders.
NSC has been the subject of a number of recent research reports. Credit Suisse Group reiterated an “outperform” rating and issued a $133.00 price objective on shares of Norfolk Souther Corporation in a report on Sunday, May 28th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a report on Tuesday, June 13th. Scotiabank downgraded shares of Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. 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 research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $115.00.
Norfolk Souther Corporation (NYSE:NSC) opened at 127.35 on Tuesday. The stock has a market cap of $36.70 billion, a PE ratio of 20.69 and a beta of 1.32. The company’s 50 day moving average is $119.74 and its 200-day moving average is $118.25. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $128.42.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the business posted $1.36 earnings per share. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 7th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.
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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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