Clear Harbor Asset Management LLC held its position in shares of Norfolk Souther Corporation (NYSE:NSC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,236 shares of the railroad operator’s stock at the end of the second quarter. Clear Harbor Asset Management LLC’s holdings in Norfolk Souther Corporation were worth $276,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Courier Capital LLC increased its position in shares of Norfolk Souther Corporation by 15.2% in the first quarter. Courier Capital LLC now owns 2,278 shares of the railroad operator’s stock valued at $255,000 after buying an additional 300 shares during the period. Patten & Patten Inc. TN increased its position in shares of Norfolk Souther Corporation by 2.0% in the first quarter. Patten & Patten Inc. TN now owns 23,995 shares of the railroad operator’s stock valued at $2,687,000 after buying an additional 475 shares during the period. Duff & Phelps Investment Management Co. acquired a new position in shares of Norfolk Souther Corporation during the first quarter valued at $7,229,000. DnB Asset Management AS increased its position in shares of Norfolk Souther Corporation by 9.0% in the first quarter. DnB Asset Management AS now owns 32,743 shares of the railroad operator’s stock valued at $3,666,000 after buying an additional 2,700 shares during the period. Finally, Somerset Trust Co increased its position in shares of Norfolk Souther Corporation by 1.9% in the first quarter. Somerset Trust Co now owns 13,021 shares of the railroad operator’s stock valued at $1,458,000 after buying an additional 245 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Shares of Norfolk Souther Corporation (NSC) traded up 0.97% during trading on Friday, hitting $116.56. The stock had a trading volume of 1,101,405 shares. Norfolk Souther Corporation has a 12-month low of $88.07 and a 12-month high of $125.31. The stock’s 50-day moving average is $118.78 and its 200-day moving average is $118.14. The stock has a market cap of $33.59 billion, a price-to-earnings ratio of 18.94 and a beta of 1.33.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the Zacks’ 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 firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. On average, equities research analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current year.

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

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Several brokerages recently weighed in on NSC. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group restated an “outperform” rating and set a $139.00 target price (up from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company restated a “buy” rating and set a $130.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Scotiabank downgraded Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $112.65.

In related news, VP Thomas E. Hurlbut sold 802 shares of the firm’s 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 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 SEC, which is available through the SEC website. 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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