MARSHALL WACE ASIA Ltd Acquires 80,799 Shares of Norfolk Souther Corporation (NSC)

MARSHALL WACE ASIA Ltd lifted its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 18.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 524,507 shares of the railroad operator’s stock after buying an additional 80,799 shares during the period. Norfolk Souther Corporation makes up approximately 3.3% of MARSHALL WACE ASIA Ltd’s holdings, making the stock its 9th largest position. MARSHALL WACE ASIA Ltd owned approximately 0.18% of Norfolk Souther Corporation worth $63,990,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. D Orazio & Associates Inc. raised its holdings in Norfolk Souther Corporation by 0.5% during the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after purchasing an additional 4 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in Norfolk Souther Corporation by 12,069.6% during the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after purchasing an additional 12,311 shares in the last quarter. MCF Advisors LLC raised its holdings in Norfolk Souther Corporation by 31.4% during the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 227 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Norfolk Souther Corporation by 35.3% during the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after purchasing an additional 250 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Norfolk Souther Corporation by 29.2% during the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.

Several research analysts recently issued reports on NSC shares. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Credit Suisse Group reissued an “outperform” rating and set a $133.00 price target (down from $139.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “sell” rating and set a $117.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday, August 29th. Deutsche Bank AG cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and cut their price target for the stock from $132.00 to $104.00 in a report on Monday, July 31st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $124.00 price target (up from $122.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Norfolk Souther Corporation currently has an average rating of “Hold” and a consensus target price of $115.00.

Shares of Norfolk Souther Corporation (NYSE NSC) opened at 128.04 on Friday. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $128.09. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 20.81 and a beta of 1.32. The stock has a 50 day moving average of $119.36 and a 200 day moving average of $118.26.

Norfolk Souther Corporation (NYSE:NSC) last released its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping analysts’ consensus estimates 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 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 previous year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, 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 was paid on Monday, September 11th. Investors of record on Monday, August 7th were issued a $0.61 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.91%. Norfolk Souther Corporation’s payout ratio is currently 39.61%.

In other news, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the sale, the vice president now owns 4,000 shares in the company, valued at $475,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief operating officer now owns 13,492 shares in the company, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. Insiders sold a total of 27,077 shares of company stock worth $3,244,531 over the last quarter. Insiders own 0.36% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “MARSHALL WACE ASIA Ltd Acquires 80,799 Shares of Norfolk Souther Corporation (NSC)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/09/17/marshall-wace-asia-ltd-acquires-80799-shares-of-norfolk-souther-corporation-nsc.html.

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Souther Corporation (NYSE:NSC).

Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

Receive News & Ratings for Norfolk Souther Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Souther Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply