Northern Trust Corp increased its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,153,916 shares of the railroad operator’s stock after purchasing an additional 393,207 shares during the period. Northern Trust Corp owned 1.79% of Norfolk Souther Corporation worth $627,231,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. D Orazio & Associates Inc. boosted its stake in Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after purchasing an additional 4 shares during the period. Harbour Capital Advisors LLC boosted its stake in Norfolk Souther Corporation by 12,069.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after purchasing an additional 12,311 shares during the period. AlphaMark Advisors LLC boosted its stake in Norfolk Souther Corporation by 20.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 150 shares during the period. Parkside Financial Bank & Trust boosted its stake in Norfolk Souther Corporation by 35.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after purchasing an additional 250 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Norfolk Souther Corporation by 29.2% during the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 70.60% of the company’s stock.

A number of brokerages recently weighed in on NSC. BidaskClub upgraded shares of Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Wolfe Research upgraded shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Monday, August 7th. UBS AG reiterated a “buy” rating and set a $133.00 price target on shares of Norfolk Souther Corporation in a research note on Monday, August 14th. Cowen and Company reiterated an “outperform” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Finally, ValuEngine cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. Norfolk Souther Corporation has an average rating of “Hold” and a consensus price target of $112.56.

Norfolk Souther Corporation (NYSE:NSC) opened at 130.46 on Monday. Norfolk Souther Corporation has a 12 month low of $89.95 and a 12 month high of $133.81. The stock has a market cap of $37.60 billion, a P/E ratio of 21.20 and a beta of 1.38. The firm’s 50-day moving average is $125.70 and its 200-day moving average is $119.47.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the 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 company 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 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that Norfolk Souther Corporation will post $6.34 earnings per share for the current fiscal year.

Norfolk Souther Corporation announced that its Board of Directors has authorized a share repurchase plan on Tuesday, September 26th that authorizes the company to buyback 50,000,000 outstanding shares. This buyback authorization authorizes the railroad operator to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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

In other news, COO Michael Joseph Wheeler sold 2,370 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 13,492 shares of the company’s stock, valued at $1,601,230.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the transaction, 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 have sold 27,077 shares of company stock valued at $3,244,531. Corporate insiders own 0.36% of the company’s stock.

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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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