Barnett & Company Inc. reduced its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 12.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,508 shares of the railroad operator’s stock after selling 950 shares during the period. Barnett & Company Inc.’s holdings in Norfolk Souther Corporation were worth $792,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NSC. BlackRock Inc. raised its position in 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 during the last quarter. Alliancebernstein L.P. raised its position in 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 during the last quarter. JPMorgan Chase & Co. raised its position in 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 during the last quarter. Investec Asset Management LTD acquired a new position in Norfolk Souther Corporation during the first quarter valued at approximately $92,710,000. Finally, Ameriprise Financial Inc. raised its position in 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 buying an additional 492,922 shares during the last quarter. Hedge funds and other institutional investors own 70.63% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE NSC) opened at 119.40 on Wednesday. The firm’s 50-day moving average price is $118.32 and its 200 day moving average price is $118.11. Norfolk Souther Corporation has a 52 week low of $89.92 and a 52 week high of $125.31. The firm has a market cap of $34.41 billion, a PE ratio of 19.40 and a beta of 1.33.

Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Norfolk Souther Corporation will post $6.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be given a dividend of $0.61 per share. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.04%. Norfolk Souther Corporation’s payout ratio is presently 39.61%.

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Several equities analysts recently commented on NSC shares. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Wednesday, May 3rd. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Credit Suisse Group reissued an “outperform” rating and set a $139.00 price target (up previously from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company reissued a “buy” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Finally, Scotiabank downgraded Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, July 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. Norfolk Souther Corporation has a consensus rating of “Hold” and an average target price of $112.59.

In other Norfolk Souther Corporation news, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $118.68, for a total transaction of $281,271.60. Following 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 document filed with the SEC, which is accessible through the SEC website. Also, Chairman James A. Squires sold 24,407 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 76,481 shares in the company, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

About Norfolk Souther Corporation

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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