Retirement Systems of Alabama cut its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,469 shares of the railroad operator’s stock after selling 2,302 shares during the period. Retirement Systems of Alabama owned about 0.05% of Norfolk Southern Corp. worth $14,410,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CIBC World Markets Inc. increased its position in shares of Norfolk Southern Corp. by 39.0% in the third quarter. CIBC World Markets Inc. now owns 38,416 shares of the railroad operator’s stock valued at $3,729,000 after buying an additional 10,779 shares during the period. WASHINGTON TRUST Co increased its position in shares of Norfolk Southern Corp. by 6.5% in the third quarter. WASHINGTON TRUST Co now owns 3,300 shares of the railroad operator’s stock valued at $320,000 after buying an additional 200 shares during the period. Penobscot Investment Management Company Inc. increased its position in shares of Norfolk Southern Corp. by 0.5% in the third quarter. Penobscot Investment Management Company Inc. now owns 8,806 shares of the railroad operator’s stock valued at $855,000 after buying an additional 42 shares during the period. Toronto Dominion Bank increased its position in shares of Norfolk Southern Corp. by 424.2% in the third quarter. Toronto Dominion Bank now owns 8,592 shares of the railroad operator’s stock valued at $834,000 after buying an additional 6,953 shares during the period. Finally, Hyman Charles D increased its position in shares of Norfolk Southern Corp. by 0.6% in the third quarter. Hyman Charles D now owns 99,230 shares of the railroad operator’s stock valued at $9,631,000 after buying an additional 600 shares during the period. Institutional investors own 67.93% of the company’s stock.

Institutional Ownership by Quarter for Norfolk Southern Corp. (NYSE:NSC)

Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 1.92% during midday trading on Wednesday, hitting $106.37. 1,384,109 shares of the company’s stock traded hands. The firm has a market capitalization of $31.05 billion, a price-to-earnings ratio of 19.70 and a beta of 1.13. The company has a 50 day moving average price of $97.01 and a 200 day moving average price of $91.07. Norfolk Southern Corp. has a 1-year low of $64.51 and a 1-year high of $107.32.

Norfolk Southern Corp. (NYSE:NSC) last announced its earnings results on Wednesday, October 26th. The railroad operator reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.25 billion. Norfolk Southern Corp. had a net margin of 16.27% and a return on equity of 13.15%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 EPS. Equities analysts anticipate that Norfolk Southern Corp. will post $5.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 4th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $2.36 annualized dividend and a yield of 2.26%. Norfolk Southern Corp.’s dividend payout ratio is 43.70%.

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Several research analysts have weighed in on the company. Vertical Group upgraded Norfolk Southern Corp. from a “sell” rating to a “hold” rating in a report on Friday, November 11th. Vertical Research upgraded Norfolk Southern Corp. from a “sell” rating to a “hold” rating in a report on Thursday, November 10th. Argus upgraded Norfolk Southern Corp. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $91.60 to $104.00 in a report on Wednesday, November 2nd. Deutsche Bank AG began coverage on Norfolk Southern Corp. in a report on Wednesday, November 2nd. They set a “buy” rating and a $110.00 price objective for the company. Finally, Zacks Investment Research upgraded Norfolk Southern Corp. from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Monday, October 31st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Norfolk Southern Corp. has an average rating of “Hold” and a consensus price target of $92.65.

In other Norfolk Southern Corp. news, VP Thomas E. Hurlbut sold 1,000 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $94.46, for a total value of $94,460.00. Following the sale, the vice president now directly owns 7,560 shares in the company, valued at approximately $714,117.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas E. Hurlbut sold 2,170 shares of the firm’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $91.21, for a total transaction of $197,925.70. Following the completion of the sale, the vice president now owns 8,560 shares in the company, valued at $780,757.60. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Norfolk Southern Corp. Company Profile

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 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.

5 Day Chart for NYSE:NSC

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