Putnam FL Investment Management Co. purchased a new position in shares of Norfolk Souther Corporation (NYSE:NSC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,913 shares of the railroad operator’s stock, valued at approximately $1,311,000.

Other hedge funds have also modified their holdings of the company. Krilogy Financial LLC increased its position in shares of Norfolk Souther Corporation by 2.6% during the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after purchasing an additional 22 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of Norfolk Souther Corporation by 20.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after acquiring an additional 150 shares during the period. D Orazio & Associates Inc. increased its position in shares of Norfolk Souther Corporation by 0.5% in the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after acquiring an additional 4 shares during the period. Harfst & Associates Inc. increased its position in shares of Norfolk Souther Corporation by 58.8% in the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock valued at $115,000 after acquiring an additional 350 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Norfolk Souther Corporation by 29.2% in the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after acquiring an additional 220 shares during the period. 70.88% of the stock is currently owned by institutional investors and hedge funds.

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Several equities analysts recently issued reports on the company. Wolfe Research raised Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Monday, August 7th. ValuEngine downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. UBS AG reissued a “buy” rating and issued a $133.00 target price on shares of Norfolk Souther Corporation in a research report on Monday, August 14th. BidaskClub downgraded Norfolk Souther Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Finally, Cowen and Company reissued an “outperform” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the company. Norfolk Souther Corporation has an average rating of “Hold” and an average target price of $127.62.

Shares of Norfolk Souther Corporation (NYSE NSC) traded up $2.80 during trading on Friday, reaching $129.22. 1,368,200 shares of the company were exchanged, compared to its average volume of 1,774,251. The stock has a market cap of $36,174.93, a price-to-earnings ratio of 19.88, a PEG ratio of 1.63 and a beta of 1.37. Norfolk Souther Corporation has a 1 year low of $102.59 and a 1 year high of $134.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.11. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. Norfolk Souther Corporation’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $1.55 EPS. equities analysts anticipate that Norfolk Souther Corporation will post 6.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 3rd will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, November 2nd. Norfolk Souther Corporation’s dividend payout ratio is presently 38.36%.

Norfolk Souther Corporation declared that its Board of Directors has authorized a share buyback plan on Tuesday, September 26th that authorizes the company to repurchase 50,000,000 outstanding shares. This repurchase authorization authorizes the railroad operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, COO Michael Joseph Wheeler sold 2,370 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $118.68, for a total value of $281,271.60. Following the transaction, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas E. Hurlbut sold 300 shares of the firm’s stock in a transaction dated 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 directly owns 4,000 shares in the company, valued at $475,200. The disclosure for this sale can be found here. Insiders sold a total of 6,238 shares of company stock worth $791,456 over the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

Norfolk Souther Corporation 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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