Janus Capital Management LLC increased its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 919.5% during the first quarter, Holdings Channel reports. The institutional investor owned 309,474 shares of the railroad operator’s stock after buying an additional 279,120 shares during the period. Janus Capital Management LLC’s holdings in Norfolk Souther Corporation were worth $34,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NSC. MCF Advisors LLC raised its position 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 raised its position 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. Parallel Advisors LLC raised its position in Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after buying an additional 220 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Norfolk Souther Corporation during the first quarter worth approximately $125,000. Finally, Guardian Life Insurance Co. of America raised its position in Norfolk Souther Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock worth $126,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE:NSC) traded down 0.26% during midday trading on Wednesday, hitting $116.90. 363,723 shares of the company’s stock were exchanged. The firm has a market cap of $33.69 billion, a price-to-earnings ratio of 19.00 and a beta of 1.33. The company has a 50-day moving average of $119.04 and a 200-day moving average of $117.98. 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 posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS 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 for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the company earned $1.36 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be issued 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 2.08%. Norfolk Souther Corporation’s payout ratio is 39.61%.

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A number of research firms recently commented on NSC. Cowen and Company reiterated an “outperform” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $124.00 price objective (up previously from $122.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Zacks Investment Research lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Deutsche Bank AG lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and decreased their price target for the stock from $132.00 to $104.00 in a research report on Monday, July 31st. Finally, Credit Suisse Group restated an “outperform” rating and issued a $139.00 price target (up previously from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 13th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target 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 transaction, the vice president now owns 4,300 shares in the company, valued at approximately $501,122. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, 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 company 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.

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

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