Cbre Clarion Securities LLC boosted its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 2.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,800 shares of the railroad operator’s stock after purchasing an additional 200 shares during the quarter. Cbre Clarion Securities LLC’s holdings in Norfolk Souther Corporation were worth $1,071,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Engineers Gate Manager LP boosted its position in shares of Norfolk Souther Corporation by 95.7% in the first quarter. Engineers Gate Manager LP now owns 12,200 shares of the railroad operator’s stock valued at $1,366,000 after acquiring an additional 5,966 shares during the period. Denver Investment Advisors LLC boosted its position in shares of Norfolk Souther Corporation by 2.1% in the first quarter. Denver Investment Advisors LLC now owns 4,458 shares of the railroad operator’s stock valued at $499,000 after acquiring an additional 90 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Norfolk Souther Corporation by 28.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,553 shares of the railroad operator’s stock valued at $2,413,000 after acquiring an additional 4,817 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock valued at $208,626,000 after acquiring an additional 492,922 shares during the period. Finally, Toronto Dominion Bank boosted its position in shares of Norfolk Souther Corporation by 55.7% in the first quarter. Toronto Dominion Bank now owns 78,423 shares of the railroad operator’s stock valued at $8,780,000 after acquiring an additional 28,066 shares during the period. 70.60% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now directly owns 76,481 shares in the company, valued at approximately $9,173,895.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the sale, 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. Over the last quarter, insiders have sold 27,077 shares of company stock valued at $3,244,531. Corporate insiders own 0.36% of the company’s stock.

Several equities research analysts have recently weighed in on NSC shares. ValuEngine cut Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Aegis reissued a “hold” rating and issued a $125.00 price objective (up from $120.00) on shares of Norfolk Souther Corporation in a research report on Tuesday. Cowen and Company reissued a “buy” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Royal Bank Of Canada reissued a “sell” rating and issued a $117.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Finally, Scotiabank cut Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, July 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $113.29.

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Norfolk Souther Corporation (NSC) opened at 130.00 on Wednesday. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $133.81. The firm has a market capitalization of $37.46 billion, a price-to-earnings ratio of 21.12 and a beta of 1.38. The firm’s 50-day moving average price is $126.40 and its 200 day moving average price is $119.88.

Norfolk Souther Corporation (NYSE:NSC) last released its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.45% and a net margin of 17.66%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. On average, analysts predict that Norfolk Souther Corporation will post $6.34 EPS for the current year.

Norfolk Souther Corporation announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 26th that allows the company to buyback 50,000,000 shares. This buyback authorization allows the railroad operator to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced 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 of this dividend was Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.88%. Norfolk Souther Corporation’s payout ratio is 39.61%.

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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