Traders purchased shares of Norfolk Souther Corporation (NYSE:NSC) on weakness during trading on Monday. $36.74 million flowed into the stock on the tick-up and $20.72 million flowed out of the stock on the tick-down, for a money net flow of $16.02 million into the stock. Of all companies tracked, Norfolk Souther Corporation had the 21st highest net in-flow for the day. Norfolk Souther Corporation traded down ($0.47) for the day and closed at $127.07
NSC has been the subject of several analyst reports. Zacks Investment Research lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. BMO Capital Markets upped their price objective on Norfolk Souther Corporation from $127.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. TD Securities upped their price objective on Norfolk Souther Corporation from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. ValuEngine lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Aegis restated a “hold” rating and issued a $125.00 price objective (up from $120.00) on shares of Norfolk Souther Corporation in a research note on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $127.62.
The firm has a market capitalization of $36,500.00, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.73 and a current ratio of 0.83.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate 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 the consensus estimate of $2.65 billion. During the same quarter last year, the firm earned $1.55 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. research analysts predict that Norfolk Souther Corporation will post 6.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 3rd will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, November 2nd. Norfolk Souther Corporation’s payout ratio is 38.79%.
Norfolk Souther Corporation declared that its Board of Directors has approved a share buyback plan on Tuesday, September 26th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the railroad operator to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 300 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 4,000 shares of the company’s stock, valued at $475,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $118.68, for a total transaction of $281,271.60. Following the completion of the sale, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,238 shares of company stock valued at $791,456. 0.36% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Norfolk Souther Corporation by 3.6% in the second quarter. BlackRock Inc. now owns 20,251,999 shares of the railroad operator’s stock worth $2,464,667,000 after purchasing an additional 700,567 shares during the last quarter. Vanguard Group Inc. lifted its stake in Norfolk Souther Corporation by 3.2% in the second quarter. Vanguard Group Inc. now owns 20,097,333 shares of the railroad operator’s stock worth $2,445,845,000 after purchasing an additional 631,018 shares during the last quarter. State Street Corp lifted its stake in Norfolk Souther Corporation by 2.2% in the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock worth $1,451,226,000 after purchasing an additional 281,088 shares during the last quarter. FMR LLC lifted its stake in Norfolk Souther Corporation by 13.0% in the second quarter. FMR LLC now owns 6,618,986 shares of the railroad operator’s stock worth $805,530,000 after purchasing an additional 762,416 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Norfolk Souther Corporation by 17.1% in the second quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock worth $772,007,000 after purchasing an additional 925,496 shares during the last quarter. 71.63% of the stock is owned by institutional investors and hedge funds.
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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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