Swiss National Bank raised its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,060,947 shares of the railroad operator’s stock after buying an additional 26,600 shares during the period. Swiss National Bank owned about 0.37% of Norfolk Souther Corporation worth $129,117,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NSC. BlackRock Inc. increased its stake in shares of Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock worth $2,189,172,000 after purchasing an additional 18,928,598 shares in the last quarter. State Street Corp increased its stake in shares of Norfolk Souther Corporation by 2.2% in the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock worth $1,451,226,000 after purchasing an additional 281,088 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after purchasing an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after purchasing an additional 1,016,319 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Norfolk Souther Corporation by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,800 shares of the railroad operator’s stock worth $392,383,000 after purchasing an additional 30,856 shares in the last quarter. 70.60% of the stock is owned by institutional investors and hedge funds.

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A number of analysts have recently issued reports on the stock. Cowen and Company reissued an “outperform” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and issued a $124.00 price objective (up from $122.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Zacks Investment Research cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Deutsche Bank AG cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $139.00 price objective (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. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. Norfolk Souther Corporation currently has a consensus rating of “Hold” and a consensus price target of $115.00.

In other news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the sale, the chairman now owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $118.68, for a total transaction of $281,271.60. Following the sale, the chief operating officer now directly owns 13,492 shares in the company, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. Insiders have sold 27,077 shares of company stock worth $3,244,531 in the last three months. Corporate insiders own 0.36% of the company’s stock.

Norfolk Souther Corporation (NSC) opened at 130.99 on Monday. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $131.32. The stock has a market cap of $37.75 billion, a P/E ratio of 21.29 and a beta of 1.32. The company has a 50-day moving average of $120.17 and a 200 day moving average of $118.29.

Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results 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. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were given a dividend of $0.61 per share. The ex-dividend date was Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 1.86%. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.

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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