Palladium Partners LLC Decreases Position in Norfolk Souther Corporation (NSC)

Palladium Partners LLC lowered its position in Norfolk Souther Corporation (NYSE:NSC) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,391 shares of the railroad operator’s stock after selling 11,449 shares during the period. Palladium Partners LLC’s holdings in Norfolk Souther Corporation were worth $11,017,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NSC. SRS Capital Advisors Inc. bought a new stake in Norfolk Souther Corporation during the fourth quarter worth about $106,000. MCF Advisors LLC increased its stake in Norfolk Souther Corporation by 31.4% in the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock worth $106,000 after buying an additional 227 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Norfolk Souther Corporation by 35.3% in the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after buying an additional 250 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Norfolk Souther Corporation during the first quarter worth about $125,000. Finally, State of Alaska Department of Revenue bought a new stake in Norfolk Souther Corporation during the first quarter worth about $168,000. 70.18% of the stock is owned by institutional investors.

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

Norfolk Souther Corporation (NSC) opened at 117.47 on Thursday. Norfolk Souther Corporation has a 52-week low of $78.73 and a 52-week high of $125.31. The firm has a 50 day moving average of $118.38 and a 200-day moving average of $115.89. The stock has a market cap of $34.04 billion, a PE ratio of 20.21 and a beta of 1.37.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 26th. The railroad operator reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. Norfolk Souther Corporation had a net margin of 17.07% and a return on equity of 13.82%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. Equities analysts anticipate that Norfolk Souther Corporation will post $6.35 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, June 10th. Stockholders of record on Friday, May 5th were issued a dividend of $0.61 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.08%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 42.00%.

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A number of analysts have recently issued reports on NSC shares. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a report on Tuesday, June 13th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Deutsche Bank AG lifted their price objective on shares of Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, April 28th. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a report on Thursday, April 27th. Finally, Loop Capital reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a report on Saturday, March 25th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. Norfolk Souther Corporation presently has an average rating of “Hold” and an average target price of $108.31.

In other news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the completion of the transaction, the vice president now directly owns 4,300 shares in the company, valued at $501,122. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas E. Hurlbut sold 571 shares of the company’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $117.66, for a total transaction of $67,183.86. Following the transaction, the vice president now owns 6,529 shares of the company’s stock, valued at $768,202.14. The disclosure for this sale can be found here. Insiders have sold 2,800 shares of company stock valued at $327,494 over the last quarter. Company insiders own 0.36% of the company’s stock.

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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