Nationwide Fund Advisors boosted its holdings in Norfolk Souther Corporation (NYSE:NSC) by 148.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,606 shares of the railroad operator’s stock after buying an additional 135,859 shares during the quarter. Nationwide Fund Advisors owned approximately 0.08% of Norfolk Souther Corporation worth $27,700,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. AlphaMark Advisors LLC boosted its stake in Norfolk Souther Corporation by 20.7% in the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after buying an additional 150 shares in the last quarter. D Orazio & Associates Inc. boosted its stake in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after buying an additional 4 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Norfolk Souther Corporation by 35.3% in the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock valued at $107,000 after buying an additional 250 shares in the last quarter. Parallel Advisors LLC boosted its stake in Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after buying an additional 220 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its stake in Norfolk Souther Corporation by 5.0% in the second quarter. North Star Investment Management Corp. now owns 1,050 shares of the railroad operator’s stock valued at $128,000 after buying an additional 50 shares in the last quarter. 70.60% of the stock is currently owned by institutional investors and hedge funds.

NSC has been the topic of several research analyst reports. Scotiabank lowered Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. Cowen and Company reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $139.00 price objective (up from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 13th. They noted that the move was a valuation call. Stephens reaffirmed an “overweight” rating and issued a $140.00 price objective (down from $147.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Finally, BidaskClub lowered Norfolk Souther Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $112.56.

In other news, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the sale, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly 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. In the last three months, insiders sold 27,077 shares of company stock valued at $3,244,531. 0.36% of the stock is currently owned by corporate insiders.

Norfolk Souther Corporation (NYSE:NSC) opened at 130.50 on Thursday. Norfolk Souther Corporation has a 12 month low of $89.95 and a 12 month high of $133.81. The stock’s 50 day moving average price is $125.02 and its 200-day moving average price is $119.28. The company has a market capitalization of $37.61 billion, a P/E ratio of 21.21 and a beta of 1.38.

Norfolk Souther Corporation (NYSE:NSC) last released its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the company posted $1.36 EPS. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts predict that Norfolk Souther Corporation will post $6.33 EPS for the current fiscal year.

Norfolk Souther Corporation announced that its board has authorized a share repurchase plan on Tuesday, September 26th that authorizes the company to repurchase 50,000,000 shares. This repurchase authorization authorizes the railroad operator to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.

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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.

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

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