Credit Suisse AG reduced its position in Norfolk Souther Corporation (NYSE:NSC) by 14.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 802,477 shares of the railroad operator’s stock after selling 131,249 shares during the period. Credit Suisse AG owned about 0.28% of Norfolk Souther Corporation worth $89,853,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock worth $2,189,172,000 after buying an additional 18,928,598 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after buying an additional 1,016,319 shares in the last quarter. Investec Asset Management LTD bought a new stake in shares of Norfolk Souther Corporation during the first quarter worth $92,710,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock worth $208,626,000 after buying an additional 492,922 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Shares of Norfolk Souther Corporation (NYSE NSC) traded up 0.88% during trading on Tuesday, reaching $116.91. The company had a trading volume of 192,970 shares. Norfolk Souther Corporation has a 12 month low of $87.61 and a 12 month high of $125.31. The firm has a 50 day moving average price of $119.52 and a 200 day moving average price of $118.08. The company has a market cap of $33.69 billion, a price-to-earnings ratio of 19.00 and a beta of 1.33.

Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.06. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. Analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

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

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NSC has been the subject of a number of analyst reports. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Wednesday, May 3rd. Deutsche Bank AG boosted their price target on Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Stifel Nicolaus boosted their price target on Norfolk Souther Corporation from $114.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, May 1st. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Finally, ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $112.17.

In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 802 shares of the firm’s stock in a transaction that occurred 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 sale, 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 is available at this hyperlink. Also, VP Thomas E. Hurlbut sold 1,427 shares of the firm’s stock in a transaction that occurred on 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 $596,525.84. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

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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