Norfolk Souther Corporation (NSC) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 9.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,087 shares of the railroad operator’s stock after selling 14,355 shares during the period. Sei Investments Co.’s holdings in Norfolk Souther Corporation were worth $17,336,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of NSC. Teachers Advisors LLC lifted its position in shares of Norfolk Souther Corporation by 12.0% during the first quarter. Teachers Advisors LLC now owns 677,325 shares of the railroad operator’s stock worth $75,840,000 after purchasing an additional 72,456 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Norfolk Souther Corporation by 24.8% during the first quarter. TIAA CREF Investment Management LLC now owns 1,532,798 shares of the railroad operator’s stock worth $171,627,000 after purchasing an additional 304,810 shares during the last quarter. Israel Discount Bank of New York acquired a new stake in Norfolk Souther Corporation during the first quarter worth about $456,000. Sentry Investments Corp. acquired a new stake in Norfolk Souther Corporation during the first quarter worth about $5,453,000. Finally, FDO Partners LLC acquired a new stake in Norfolk Souther Corporation during the first quarter worth about $1,757,000. 70.88% of the stock is currently owned by institutional investors and hedge funds.

NSC has been the topic of several research reports. Credit Suisse Group reiterated a “buy” rating and set a $143.00 price objective (up previously 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 shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note 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 note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $147.00 price objective on the stock in a research note on Wednesday, November 1st. Finally, Deutsche Bank AG lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $132.00 to $104.00 in a research note on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $127.62.

In related news, VP Thomas E. Hurlbut sold 300 shares of the firm’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 value of $35,640.00. Following the completion of the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $133.00, for a total transaction of $474,544.00. Following the completion of the transaction, the chief operating officer now directly owns 15,837 shares of the company’s stock, valued at approximately $2,106,321. The disclosure for this sale can be found here. Insiders sold a total of 6,238 shares of company stock valued at $791,456 in the last ninety days. Company insiders own 0.36% of the company’s stock.

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Shares of Norfolk Souther Corporation (NSC) traded down $0.64 during trading hours on Wednesday, reaching $126.98. 1,141,900 shares of the company were exchanged, compared to its average volume of 1,778,047. The company has a market capitalization of $36,518.31, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. Norfolk Souther Corporation has a 1 year low of $102.59 and a 1 year high of $134.52. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business posted $1.55 EPS. The company’s revenue was up 5.8% on a year-over-year basis. research analysts predict that Norfolk Souther Corporation will post 6.46 earnings per share for the current fiscal year.

Norfolk Souther Corporation announced that its board has initiated a share repurchase program on Tuesday, September 26th that authorizes the company to repurchase 50,000,000 shares. This repurchase authorization authorizes the railroad operator to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 3rd will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, November 2nd. Norfolk Souther Corporation’s dividend payout ratio is 38.36%.

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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