Bessemer Group Inc. raised its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,252 shares of the railroad operator’s stock after buying an additional 242 shares during the period. Bessemer Group Inc.’s holdings in Norfolk Souther Corporation were worth $1,615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. First Manhattan Co. raised its position in Norfolk Souther Corporation by 16.6% in the first quarter. First Manhattan Co. now owns 12,984 shares of the railroad operator’s stock valued at $1,260,000 after buying an additional 1,848 shares during the last quarter. Pillar Pacific Capital Management LLC raised its position in Norfolk Souther Corporation by 0.9% in the first quarter. Pillar Pacific Capital Management LLC now owns 58,450 shares of the railroad operator’s stock valued at $6,544,000 after buying an additional 520 shares during the last quarter. Lee Danner & Bass Inc. raised its position in Norfolk Souther Corporation by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock valued at $257,000 after buying an additional 7 shares during the last quarter. Israel Discount Bank of New York acquired a new position in Norfolk Souther Corporation during the first quarter valued at approximately $456,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in Norfolk Souther Corporation by 11.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 8,326 shares of the railroad operator’s stock valued at $932,000 after buying an additional 856 shares during the last quarter. 70.63% of the stock is owned by institutional investors and hedge funds.

Norfolk Souther Corporation (NYSE:NSC) opened at 117.76 on Tuesday. The stock has a 50 day moving average of $118.32 and a 200-day moving average of $118.11. The firm has a market capitalization of $33.94 billion, a PE ratio of 19.14 and a beta of 1.33. Norfolk Souther Corporation has a one year low of $89.92 and a one year high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the company posted $1.36 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be given a $0.61 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 annualized dividend and a yield of 2.07%. Norfolk Souther Corporation’s payout ratio is 39.61%.

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NSC has been the subject of several recent research reports. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Wednesday, May 3rd. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $133.00 price target (down previously from $139.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. They noted that the move was a valuation call. Deutsche Bank AG downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and decreased their price target for the stock from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $124.00 price target (up previously from $122.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Norfolk Souther Corporation currently has an average rating of “Hold” and a consensus target price of $112.35.

In other Norfolk Souther Corporation news, COO Michael Joseph Wheeler sold 2,370 shares of Norfolk Souther Corporation stock in a transaction on Friday, August 25th. The stock was sold at an average price of $118.68, for a total value of $281,271.60. Following the completion of the transaction, the chief operating officer now owns 13,492 shares in the company, valued at approximately $1,601,230.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman James A. Squires sold 24,407 shares of Norfolk Souther Corporation 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 completion of the transaction, the chairman now owns 76,481 shares of the company’s stock, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. 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.

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

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