Renaissance Technologies LLC boosted its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 106.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 499,600 shares of the railroad operator’s stock after acquiring an additional 257,500 shares during the quarter. Renaissance Technologies LLC owned 0.17% of Norfolk Souther Corporation worth $60,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. D Orazio & Associates Inc. increased its holdings in shares of 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 purchasing an additional 4 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Norfolk Souther Corporation by 12,069.6% in the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock valued at $102,000 after purchasing an additional 12,311 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of 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 purchasing an additional 150 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of 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 purchasing an additional 250 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of 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 purchasing an additional 220 shares during the last quarter. 70.60% of the stock is currently owned by hedge funds and other institutional investors.

In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman James A. Squires sold 24,407 shares of Norfolk Souther Corporation 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 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. Insiders have sold a total of 27,077 shares of company stock valued at $3,244,531 in the last ninety days. Insiders own 0.36% of the company’s stock.

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Several research firms have commented on NSC. BidaskClub upgraded shares of Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Aegis reiterated a “hold” rating and issued a $125.00 price objective (up from $120.00) on shares of Norfolk Souther Corporation in a report on Tuesday. Wolfe Research upgraded shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Monday, August 7th. UBS AG reiterated a “buy” rating and issued a $133.00 price objective on shares of Norfolk Souther Corporation in a report on Monday, August 14th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $113.29.

Shares of Norfolk Souther Corporation (NSC) opened at 130.00 on Wednesday. The company has a market cap of $37.46 billion, a PE ratio of 21.12 and a beta of 1.38. The company’s 50-day moving average is $126.40 and its 200 day moving average is $119.88. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $133.81.

Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 EPS. On average, analysts anticipate that Norfolk Souther Corporation will post $6.34 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 7th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, August 3rd. Norfolk Souther Corporation’s payout ratio is presently 39.61%.

Norfolk Souther Corporation declared that its board has authorized a share buyback plan on Tuesday, September 26th that authorizes the company to buyback 50,000,000 shares. This buyback authorization authorizes the railroad operator to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.

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

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