Franklin Street Advisors Inc. NC lowered its stake in Norfolk Souther Corporation (NYSE:NSC) by 10.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 14,685 shares of the railroad operator’s stock after selling 1,700 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Norfolk Souther Corporation were worth $1,787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position 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 valued at $2,189,172,000 after buying an additional 18,928,598 shares in the last quarter. State Street Corp boosted its position 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 valued at $1,451,226,000 after buying an additional 281,088 shares in the last quarter. Alliancebernstein L.P. boosted its position 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 valued at $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 valued at $471,313,000 after buying an additional 1,016,319 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 valued at $392,383,000 after buying an additional 30,856 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.

Shares of Norfolk Souther Corporation (NYSE:NSC) traded up 0.40% during mid-day trading on Friday, reaching $118.21. 989,767 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $118.32 and a 200 day moving average price of $118.11. The firm has a market cap of $34.07 billion, a P/E ratio of 19.21 and a beta of 1.33. Norfolk Souther Corporation has a 52-week low of $89.92 and a 52-week high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the 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 previous year, the business posted $1.36 earnings per share. Norfolk Souther Corporation’s quarterly revenue was up 7.5% on a year-over-year basis. Analysts forecast that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.

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Several research analysts have recently commented on NSC shares. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a report on Tuesday, June 27th. UBS AG reaffirmed a “buy” rating and set a $138.00 target price (up from $135.00) on shares of Norfolk Souther Corporation in a report on Friday, April 28th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Cowen and Company reaffirmed a “buy” rating and set a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Finally, Scotiabank cut shares of Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. Norfolk Souther Corporation has an average rating of “Hold” and a consensus target price of $112.35.

In related news, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total value of $2,927,619.65. Following the sale, the chairman now owns 76,481 shares in the company, valued at $9,173,895.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.36% of the company’s stock.

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.

Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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