Nippon Life Insurance Co. lowered its stake in Norfolk Souther Corporation (NYSE:NSC) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,357 shares of the railroad operator’s stock after selling 497 shares during the period. Nippon Life Insurance Co.’s holdings in Norfolk Souther Corporation were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. D Orazio & Associates Inc. raised its position in 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 purchasing an additional 4 shares in the last quarter. Lee Danner & Bass Inc. raised its position in Norfolk Souther Corporation by 0.3% in the 1st quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock valued at $257,000 after purchasing an additional 7 shares in the last quarter. Alexandria Capital LLC raised its position in Norfolk Souther Corporation by 0.4% in the 2nd quarter. Alexandria Capital LLC now owns 1,865 shares of the railroad operator’s stock valued at $227,000 after purchasing an additional 7 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Norfolk Souther Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock valued at $126,000 after purchasing an additional 8 shares in the last quarter. Finally, Ronna Sue Cohen raised its position in Norfolk Souther Corporation by 0.5% in the 2nd quarter. Ronna Sue Cohen now owns 2,761 shares of the railroad operator’s stock valued at $336,000 after purchasing an additional 13 shares in the last quarter. 70.64% of the stock is currently owned by institutional investors.

In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total transaction of $35,640.00. Following the sale, the vice president now owns 4,000 shares in the company, valued at $475,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction that occurred 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 approximately $9,173,895.95. The disclosure for this sale can be found here. Insiders have sold 27,077 shares of company stock worth $3,244,531 in the last 90 days. 0.36% of the stock is currently owned by insiders.

Norfolk Souther Corporation (NYSE NSC) opened at 126.76 on Thursday. Norfolk Souther Corporation has a 52 week low of $89.92 and a 52 week high of $126.98. The firm has a 50 day moving average price of $118.41 and a 200 day moving average price of $118.09. The stock has a market capitalization of $36.53 billion, a P/E ratio of 20.60 and a beta of 1.32.

Norfolk Souther Corporation (NYSE:NSC) last announced 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 for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 7th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, August 3rd. Norfolk Souther Corporation’s payout ratio is currently 39.61%.

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NSC has been the topic of several research analyst reports. 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 $133.00 target price on shares of Norfolk Souther Corporation in a research report on Sunday, May 28th. Royal Bank Of Canada reissued a “sell” rating and set a $117.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Deutsche Bank AG lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating and cut their target price for the stock from $132.00 to $104.00 in a research report on Monday, July 31st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $124.00 target price (up previously from $122.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $115.00.

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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