Carroll Financial Associates Inc. raised its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,742 shares of the railroad operator’s stock after buying an additional 107 shares during the period. Carroll Financial Associates Inc.’s holdings in Norfolk Souther Corporation were worth $455,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Norfolk Souther Corporation by 4.4% in the second quarter. Russell Investments Group Ltd. now owns 335,501 shares of the railroad operator’s stock valued at $40,832,000 after buying an additional 14,233 shares during the last quarter. Regentatlantic Capital LLC increased its position in Norfolk Souther Corporation by 3.9% in the second quarter. Regentatlantic Capital LLC now owns 11,203 shares of the railroad operator’s stock valued at $1,363,000 after buying an additional 422 shares during the last quarter. Berkshire Asset Management LLC PA increased its position in Norfolk Souther Corporation by 1.8% in the second quarter. Berkshire Asset Management LLC PA now owns 92,821 shares of the railroad operator’s stock valued at $11,296,000 after buying an additional 1,634 shares during the last quarter. PGGM Investments acquired a new position in Norfolk Souther Corporation during the second quarter valued at about $31,607,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Norfolk Souther Corporation during the second quarter valued at about $2,340,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Shares of Norfolk Souther Corporation (NYSE:NSC) traded up 0.97% on Friday, hitting $116.56. 1,101,405 shares of the stock were exchanged. Norfolk Souther Corporation has a 12 month low of $88.07 and a 12 month high of $125.31. The company has a market cap of $33.59 billion, a PE ratio of 18.94 and a beta of 1.33. The company has a 50-day moving average price of $118.78 and a 200 day moving average price of $118.14.

Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results 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 company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. Norfolk Souther Corporation’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $1.36 EPS. Equities analysts forecast that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.09%. Norfolk Souther Corporation’s payout ratio is 39.61%.

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Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday. Wolfe Research raised shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Monday, August 7th. Cowen and Company reaffirmed an “outperform” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Deutsche Bank AG downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and dropped their price target for the company from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, Zacks Investment Research downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $112.65.

In related 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 value of $93,465.08. Following the completion of the transaction, the vice president now directly owns 4,300 shares in the company, valued at approximately $501,122. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is 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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