Folger Nolan Fleming Douglas Capital Management Inc. maintained its position in shares of Norfolk Souther Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,887 shares of the railroad operator’s stock at the end of the second quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Norfolk Souther Corporation were worth $230,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. D Orazio & Associates Inc. increased its stake 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 worth $100,000 after buying an additional 4 shares during the period. QCI Asset Management Inc. NY increased its stake in Norfolk Souther Corporation by 0.5% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after buying an additional 5 shares during the period. Lee Danner & Bass Inc. increased its stake 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 worth $257,000 after buying an additional 7 shares during the period. Alexandria Capital LLC increased its stake 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 worth $227,000 after buying an additional 7 shares during the period. Finally, Guardian Life Insurance Co. of America increased its stake 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 worth $126,000 after buying an additional 8 shares during the period. 70.60% of the stock is currently owned by institutional investors.

Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 131.12 on Friday. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $133.81. The company has a 50-day moving average of $125.33 and a 200-day moving average of $119.36. The firm has a market capitalization of $37.79 billion, a PE ratio of 21.31 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, 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 period in the prior year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts predict that Norfolk Souther Corporation will post $6.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 7th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.

Norfolk Souther Corporation declared that its Board of Directors has initiated a share buyback plan on Tuesday, September 26th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the railroad operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In related 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 value of $35,640.00. Following the completion of the transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at $475,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the chairman now directly owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The disclosure for this sale can be found here. Insiders sold 27,077 shares of company stock valued at $3,244,531 over the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

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Several research analysts recently commented on NSC shares. Credit Suisse Group AG reaffirmed 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. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $117.00 price target on shares of Norfolk Souther Corporation in a research note on Tuesday, August 29th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank AG downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their price target for the stock from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed 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. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $112.56.

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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