United Services Automobile Association Acquires 1,353 Shares of Norfolk Souther Corporation (NSC)

United Services Automobile Association boosted its stake in Norfolk Souther Corporation (NYSE:NSC) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,982 shares of the railroad operator’s stock after buying an additional 1,353 shares during the period. United Services Automobile Association owned 0.05% of Norfolk Souther Corporation worth $16,905,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. increased its position in Norfolk Souther Corporation by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock valued at $257,000 after buying an additional 7 shares during the last quarter. Private Bank & Trust Co. increased its position in Norfolk Souther Corporation by 0.5% in the first quarter. Private Bank & Trust Co. now owns 2,010 shares of the railroad operator’s stock valued at $225,000 after buying an additional 10 shares during the last quarter. WASHINGTON TRUST Co increased its position in Norfolk Souther Corporation by 0.9% in the first quarter. WASHINGTON TRUST Co now owns 3,331 shares of the railroad operator’s stock valued at $373,000 after buying an additional 31 shares during the last quarter. Savant Capital LLC increased its position in Norfolk Souther Corporation by 0.7% in the first quarter. Savant Capital LLC now owns 5,599 shares of the railroad operator’s stock valued at $627,000 after buying an additional 41 shares during the last quarter. Finally, McQueen Ball & Associates Inc. increased its position in Norfolk Souther Corporation by 0.3% in the first quarter. McQueen Ball & Associates Inc. now owns 17,241 shares of the railroad operator’s stock valued at $1,930,000 after buying an additional 50 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE NSC) traded down 1.72% during mid-day trading on Thursday, reaching $115.44. The company’s stock had a trading volume of 1,415,792 shares. The company’s 50-day moving average is $118.86 and its 200-day moving average is $118.14. The stock has a market capitalization of $33.27 billion, a price-to-earnings ratio of 18.76 and a beta of 1.33. Norfolk Souther Corporation has a 52 week low of $87.97 and a 52 week high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.11%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.

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A number of research analysts have recently issued reports on NSC shares. Scotiabank downgraded Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a report on Tuesday, June 27th. UBS AG reiterated a “buy” rating and issued a $138.00 price target (up from $135.00) on shares of Norfolk Souther Corporation in a report on Friday, April 28th. Stifel Nicolaus lifted their price target on Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a report on Monday, May 1st. Finally, Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Monday. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $112.17.

In other news, VP Thomas E. Hurlbut sold 802 shares of the stock in a transaction dated 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 sale, the vice president now owns 4,300 shares in the company, valued at $501,122. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Hurlbut sold 1,427 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $116.92, for a total transaction of $166,844.84. Following the sale, the vice president now owns 5,102 shares of the company’s stock, valued at approximately $596,525.84. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.

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.

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

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