Norfolk Souther Corporation (NSC) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 10.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,745 shares of the railroad operator’s stock after selling 6,496 shares during the period. HighTower Advisors LLC’s holdings in Norfolk Souther Corporation were worth $6,138,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Macquarie Group Ltd. raised its stake in shares of Norfolk Souther Corporation by 22.5% in the fourth quarter. Macquarie Group Ltd. now owns 60,300 shares of the railroad operator’s stock worth $6,517,000 after buying an additional 11,060 shares during the last quarter. Chesley Taft & Associates LLC raised its stake in shares of Norfolk Souther Corporation by 13.2% in the first quarter. Chesley Taft & Associates LLC now owns 3,000 shares of the railroad operator’s stock worth $336,000 after buying an additional 350 shares during the last quarter. Gulf International Bank UK Ltd raised its position in Norfolk Souther Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 90,811 shares of the railroad operator’s stock valued at $10,168,000 after buying an additional 1,220 shares during the last quarter. Carroll Financial Associates Inc. raised its position in Norfolk Souther Corporation by 7.7% in the first quarter. Carroll Financial Associates Inc. now owns 3,635 shares of the railroad operator’s stock valued at $407,000 after buying an additional 259 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its position in Norfolk Souther Corporation by 6.8% in the first quarter. Regentatlantic Capital LLC now owns 10,781 shares of the railroad operator’s stock valued at $1,207,000 after buying an additional 690 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE NSC) traded up 0.96% during midday trading on Friday, hitting $118.63. The stock had a trading volume of 1,448,245 shares. Norfolk Souther Corporation has a 1-year low of $89.92 and a 1-year high of $125.31. The firm’s 50-day moving average price is $118.72 and its 200-day moving average price is $118.14. The stock has a market cap of $34.19 billion, a price-to-earnings ratio of 19.28 and a beta of 1.33.

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 net margin of 17.66% and a return on equity of 14.45%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the company posted $1.36 earnings per share. Norfolk Souther Corporation’s revenue was up 7.5% compared to the same quarter last year. Analysts forecast that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.

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Several equities analysts have recently weighed in on NSC shares. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Wednesday, May 3rd. Deutsche Bank AG boosted their price target on Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Stifel Nicolaus boosted their price target on Norfolk Souther Corporation from $114.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, May 1st. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Finally, ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $112.35.

In other news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total value of $2,927,619.65. Following the completion of the sale, the chairman now directly owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas E. Hurlbut sold 802 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $116.54, for a total transaction of $93,465.08. Following the completion of the sale, the vice president now directly owns 4,300 shares of the company’s stock, valued at $501,122. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.

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)

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