Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Norfolk Souther Corporation (NYSE:NSC) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 847,925 shares of the railroad operator’s stock after selling 13,203 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.30% of Norfolk Souther Corporation worth $112,130,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NSC. Israel Discount Bank of New York acquired a new position in shares of Norfolk Souther Corporation in the first quarter valued at $456,000. Sentry Investments Corp. acquired a new position in shares of Norfolk Souther Corporation in the first quarter valued at $5,453,000. FDO Partners LLC acquired a new position in shares of Norfolk Souther Corporation in the first quarter valued at $1,757,000. WINTON GROUP Ltd acquired a new position in shares of Norfolk Souther Corporation in the first quarter valued at $836,000. Finally, Investec Asset Management LTD acquired a new position in shares of Norfolk Souther Corporation in the first quarter valued at $92,710,000. Hedge funds and other institutional investors own 70.88% of the company’s stock.

Norfolk Souther Corporation (NYSE NSC) traded down $0.56 during mid-day trading on Thursday, hitting $126.42. 1,345,300 shares of the stock were exchanged, compared to its average volume of 1,776,089. The company has a market capitalization of $36,335.18, a PE ratio of 19.97, a P/E/G ratio of 1.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Souther Corporation has a 52-week low of $102.59 and a 52-week high of $134.52.

Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 earnings per share. sell-side analysts forecast that Norfolk Souther Corporation will post 6.46 EPS for the current fiscal year.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 3rd will be issued a $0.61 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.93%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is currently 38.36%.

NSC has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. BMO Capital Markets boosted their target price on shares of Norfolk Souther Corporation from $127.00 to $135.00 and gave the company a “market perform” rating in a research report on Thursday, October 26th. TD Securities boosted their target price on shares of Norfolk Souther Corporation from $130.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. ValuEngine cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Aegis reissued a “hold” rating and issued a $125.00 target price (up previously from $120.00) on shares of Norfolk Souther Corporation in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $127.62.

In other news, COO Michael Joseph Wheeler sold 3,568 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $133.00, for a total value of $474,544.00. Following the completion of the transaction, the chief operating officer now owns 15,837 shares of the company’s stock, valued at $2,106,321. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were 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 approximately $475,200. The disclosure for this sale can be found here. Insiders sold 6,238 shares of company stock valued at $791,456 in the last three months. Company insiders own 0.36% of the company’s stock.

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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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