Norfolk Souther Corporation (NSC) Shares Bought by Vaughan David Investments Inc. IL
Vaughan David Investments Inc. IL boosted its holdings in Norfolk Souther Corporation (NYSE:NSC) by 6,127.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 612,319 shares of the railroad operator’s stock after acquiring an additional 602,487 shares during the quarter. Norfolk Souther Corporation accounts for about 1.5% of Vaughan David Investments Inc. IL’s investment portfolio, making the stock its 15th largest position. Vaughan David Investments Inc. IL owned 0.21% of Norfolk Souther Corporation worth $29,606,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in NSC. D Orazio & Associates Inc. increased its stake in Norfolk Souther Corporation by 0.5% in the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after acquiring an additional 4 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in Norfolk Souther Corporation by 12,069.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after acquiring an additional 12,311 shares during the last quarter. Krilogy Financial LLC increased its stake in Norfolk Souther Corporation by 2.6% in the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after acquiring an additional 22 shares during the last quarter. AlphaMark Advisors LLC increased its stake in Norfolk Souther Corporation by 20.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after acquiring an additional 150 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Norfolk Souther Corporation by 29.2% in the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 70.88% of the company’s stock.
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In other news, VP Thomas E. Hurlbut sold 300 shares of the firm’s 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 completion of the transaction, the vice president now owns 4,000 shares in the company, valued at approximately $475,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Joseph Wheeler sold 3,568 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $133.00, for a total value of $474,544.00. Following the completion of the transaction, the chief operating officer now owns 15,837 shares of the company’s stock, valued at approximately $2,106,321. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,238 shares of company stock valued at $791,456. Company insiders own 0.36% of the company’s stock.
Norfolk Souther Corporation (NYSE NSC) traded down $1.68 during midday trading on Friday, reaching $127.54. The company’s stock had a trading volume of 1,205,216 shares, compared to its average volume of 1,771,707. Norfolk Souther Corporation has a 1-year low of $102.76 and a 1-year high of $134.52. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.73. The stock has a market cap of $36,980.00, a PE ratio of 19.97, a P/E/G ratio of 1.64 and a beta of 1.37.
Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. Norfolk Souther Corporation had a return on equity of 14.72% and a net margin of 17.86%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the business posted $1.55 EPS. The business’s revenue was up 5.8% on a year-over-year basis. equities analysts forecast that Norfolk Souther Corporation will post 6.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 3rd will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, November 2nd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is currently 38.79%.
Norfolk Souther Corporation declared that its board has approved a share buyback plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the railroad operator to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
NSC has been the topic of a number of research analyst reports. Credit Suisse Group restated a “buy” rating and issued a $143.00 target price (up from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, October 12th. They noted that the move was a valuation call. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “sell” rating and set a $117.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $147.00 price objective on the stock in a research report on Wednesday, November 1st. Finally, Deutsche Bank AG lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the company from $132.00 to $104.00 in a research report on Monday, July 31st. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $127.62.
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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