Usca Ria LLC lowered its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,410 shares of the railroad operator’s stock after selling 29 shares during the period. Usca Ria LLC’s holdings in Norfolk Souther Corporation were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in NSC. BlackRock Inc. increased its holdings in shares of Norfolk Souther Corporation by 3,039.1% during the 1st 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 during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Norfolk Souther Corporation by 936.1% during the 1st 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Norfolk Souther Corporation by 31.8% during the 1st 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 during the last quarter. Investec Asset Management LTD acquired a new stake in shares of Norfolk Souther Corporation during the 1st quarter worth approximately $92,710,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Norfolk Souther Corporation by 36.0% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.

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Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 127.80 on Wednesday. The stock has a market capitalization of $36.83 billion, a PE ratio of 20.77 and a beta of 1.32. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $128.42. The stock’s 50 day moving average is $120.17 and its 200 day moving average is $118.29.

Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.06. The business 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 quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. Equities research analysts expect that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were paid a $0.61 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 1.91%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.

In other news, COO Michael Joseph Wheeler sold 2,370 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $118.68, for a total value of $281,271.60. Following the completion of the transaction, the chief operating officer now directly owns 13,492 shares in the company, valued at $1,601,230.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at $475,200. The disclosure for this sale can be found here. Insiders sold 27,077 shares of company stock valued at $3,244,531 over the last 90 days. Insiders own 0.36% of the company’s stock.

A number of research firms recently weighed in on NSC. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a research report on Tuesday, June 27th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $139.00 price objective (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. Royal Bank Of Canada reaffirmed a “sell” rating and set a $117.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $115.00.

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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