Norfolk Souther Corporation (NSC) Chairman James A. Squires Sells 24,407 Shares
Norfolk Souther Corporation (NYSE:NSC) Chairman James A. Squires sold 24,407 shares of Norfolk Souther Corporation stock in a transaction on 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 completion of the sale, the chairman now directly owns 76,481 shares in the company, valued at approximately $9,173,895.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Norfolk Souther Corporation (NSC) traded up 0.32% during mid-day trading on Wednesday, hitting $120.43. The company had a trading volume of 1,180,341 shares. The firm has a 50-day moving average of $118.80 and a 200-day moving average of $118.13. The company has a market cap of $34.71 billion, a PE ratio of 19.57 and a beta of 1.33. Norfolk Souther Corporation has a 12 month low of $88.62 and a 12 month high of $125.31.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the business earned $1.36 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. On average, analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors 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 2.03%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.
Institutional investors have recently added to or reduced their stakes in the company. Gofen & Glossberg LLC IL increased its position in Norfolk Souther Corporation by 1.5% in the second quarter. Gofen & Glossberg LLC IL now owns 7,239 shares of the railroad operator’s stock valued at $881,000 after buying an additional 109 shares during the period. National Asset Management Inc. increased its position in Norfolk Souther Corporation by 16.2% in the second quarter. National Asset Management Inc. now owns 2,479 shares of the railroad operator’s stock valued at $304,000 after buying an additional 346 shares during the period. Krilogy Financial LLC increased its position in Norfolk Souther Corporation by 2.6% in the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after buying an additional 22 shares during the period. BB&T Investment Services Inc. acquired a new position in Norfolk Souther Corporation during the second quarter valued at $287,000. Finally, Linscomb & Williams Inc. increased its position in Norfolk Souther Corporation by 1.1% in the second quarter. Linscomb & Williams Inc. now owns 34,988 shares of the railroad operator’s stock valued at $4,258,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.
NSC has been the topic of a number of research analyst reports. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Credit Suisse Group restated an “outperform” rating and issued a $139.00 price objective (up previously from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company restated a “buy” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Scotiabank lowered Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $112.35.
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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