Today, Girard Partners LTD. Reduces Position in Norfolk Southern Corp. (NSC)

Today, Girard Partners LTD. Reduces Position in Norfolk Southern Corp. (NSC)
Girard Partners LTD. lowered its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 10.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,485 shares of the railroad operator’s stock after selling 290 shares during the period. Girard Partners LTD.’s holdings in Norfolk Southern Corp. were worth $241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NSC. WealthTrust Arizona LLC increased its stake in shares of Norfolk Southern Corp. by 0.9% in the third quarter. WealthTrust Arizona LLC now owns 1,100 shares of the railroad operator’s stock worth $107,000 after buying an additional 10 shares in the last quarter. Zions Bancorporation increased its stake in shares of Norfolk Southern Corp. by 90.4% in the second quarter. Zions Bancorporation now owns 1,369 shares of the railroad operator’s stock worth $116,000 after buying an additional 650 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Norfolk Southern Corp. by 165.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,460 shares of the railroad operator’s stock worth $124,000 after buying an additional 910 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of Norfolk Southern Corp. during the second quarter worth about $125,000. Finally, Financial Architects Inc increased its stake in shares of Norfolk Southern Corp. by 18.9% in the third quarter. Financial Architects Inc now owns 1,326 shares of the railroad operator’s stock worth $129,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Norfolk Southern Corp. (NYSE:NSC) traded up 0.22% during midday trading on Friday, hitting $104.27. The company had a trading volume of 635,574 shares. Norfolk Southern Corp. has a 12 month low of $64.51 and a 12 month high of $105.50. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 19.31 and a beta of 1.13. The firm has a 50-day moving average price of $96.62 and a 200-day moving average price of $90.82.

Norfolk Southern Corp. (NYSE:NSC) last posted its earnings results on Wednesday, October 26th. The railroad operator reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.10. Norfolk Southern Corp. had a return on equity of 13.15% and a net margin of 16.27%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the company earned $1.49 EPS. Norfolk Southern Corp.’s revenue was down 7.0% on a year-over-year basis. Equities analysts anticipate that Norfolk Southern Corp. will post $5.55 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Friday, November 4th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, November 2nd. Norfolk Southern Corp.’s payout ratio is 43.70%.

NSC has been the subject of a number of analyst reports. Sanford C. Bernstein restated a “market perform” rating and issued a $96.00 price target on shares of Norfolk Southern Corp. in a research report on Wednesday, October 26th. Zacks Investment Research downgraded Norfolk Southern Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Citigroup Inc. raised their price target on Norfolk Southern Corp. from $87.00 to $97.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 13th. Bank of America Corp. upgraded Norfolk Southern Corp. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $97.00 to $110.00 in a research note on Tuesday, October 11th. Finally, Credit Suisse Group AG reduced their target price on Norfolk Southern Corp. from $99.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $92.82.

In other Norfolk Southern Corp. news, VP Thomas E. Hurlbut sold 469 shares of the company’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $103.77, for a total transaction of $48,668.13. Following the sale, the vice president now owns 7,041 shares in the company, valued at approximately $730,644.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James A. Hixon sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the vice president now owns 129,074 shares in the company, valued at approximately $12,152,317.10. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

About Norfolk Southern Corp.

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 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 Southern Corp. (NYSE:NSC).

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

Related posts

Leave a Comment