Ballentine Partners LLC acquired a new position in Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 2,846 shares of the railroad operator’s stock, valued at approximately $318,000.

Other institutional investors have also recently bought and sold shares of the company. D Orazio & Associates Inc. boosted its position in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after buying an additional 4 shares during the last quarter. Lee Danner & Bass Inc. boosted 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 worth $257,000 after buying an additional 7 shares during the last quarter. Guardian Life Insurance Co. of America boosted 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 during the last quarter. Private Bank & Trust Co. boosted 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 worth $225,000 after buying an additional 10 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Norfolk Souther Corporation by 0.8% in the first quarter. Signaturefd LLC now owns 2,351 shares of the railroad operator’s stock worth $263,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Norfolk Souther Corporation (NYSE NSC) traded up 0.97% on Friday, reaching $116.56. The company’s stock had a trading volume of 1,101,405 shares. Norfolk Souther Corporation has a one year low of $88.07 and a one year high of $125.31. The company has a market capitalization of $33.59 billion, a PE ratio of 18.94 and a beta of 1.33. The firm has a 50-day moving average of $118.78 and a 200-day moving average 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 analysts’ consensus estimates of $1.65 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current year.

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

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A number of equities analysts have recently issued reports on the company. Scotiabank cut 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 objective for the company in a report on Tuesday, June 27th. Stifel Nicolaus upped their price objective on Norfolk Souther Corporation from $114.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, May 1st. UBS AG reiterated a “buy” rating and issued a $138.00 price objective (up from $135.00) on shares of Norfolk Souther Corporation in a report on Friday, April 28th. Finally, Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Monday, August 7th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. Norfolk Souther Corporation currently has a consensus rating of “Hold” and a consensus price target of $112.65.

In other news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $116.54, for a total transaction of $93,465.08. Following the transaction, the vice president now directly owns 4,300 shares of the company’s stock, valued at $501,122. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Norfolk Souther Corporation Company Profile

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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