British Airways Pensions Investment Management Ltd acquired a new position in shares of Norfolk Southern Corp. (NYSE:NSC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 319,985 shares of the railroad operator’s stock, valued at approximately $27,348,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RKL Wealth Management LLC bought a new position in shares of Norfolk Southern Corp. during the first quarter worth about $325,000. Hills Bank & Trust Co. boosted its position in shares of Norfolk Southern Corp. by 20.6% in the first quarter. Hills Bank & Trust Co. now owns 9,015 shares of the railroad operator’s stock worth $750,000 after buying an additional 1,540 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Norfolk Southern Corp. by 3.6% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 434,746 shares of the railroad operator’s stock worth $36,193,000 after buying an additional 15,070 shares during the period. Murphy Pohlad Asset Management LLC boosted its position in shares of Norfolk Southern Corp. by 10.3% in the first quarter. Murphy Pohlad Asset Management LLC now owns 17,909 shares of the railroad operator’s stock worth $1,490,000 after buying an additional 1,675 shares during the period. Finally, Cornerstone Investment Partners LLC boosted its position in shares of Norfolk Southern Corp. by 11.9% in the first quarter. Cornerstone Investment Partners LLC now owns 842,286 shares of the railroad operator’s stock worth $70,120,000 after buying an additional 89,545 shares during the period. 67.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 1.29% on Wednesday, hitting $93.11. 1,253,762 shares of the stock traded hands. Norfolk Southern Corp. has a one year low of $64.51 and a one year high of $98.75. The stock has a 50 day moving average of $91.39 and a 200 day moving average of $86.77. The company has a market cap of $27.33 billion, a PE ratio of 17.44 and a beta of 1.28.

Norfolk Southern Corp. (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.51 billion. Norfolk Southern Corp. had a net margin of 15.88% and a return on equity of 13.34%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. Equities analysts anticipate that Norfolk Southern Corp. will post $5.40 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Monday, August 8th were paid a $0.59 dividend. The ex-dividend date was Thursday, August 4th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.53%. Norfolk Southern Corp.’s payout ratio is currently 44.19%.

A number of analysts have recently weighed in on the stock. Loop Capital reiterated a “hold” rating on shares of Norfolk Southern Corp. in a report on Friday, September 9th. Citigroup Inc. increased their target price on shares of Norfolk Southern Corp. from $87.00 to $97.00 and gave the stock a “neutral” rating in a report on Tuesday, September 13th. Barclays PLC dropped their target price on shares of Norfolk Southern Corp. from $104.00 to $92.00 and set an “equal weight” rating for the company in a report on Monday, September 12th. Deutsche Bank AG dropped their target price on shares of Norfolk Southern Corp. from $90.00 to $89.00 and set a “hold” rating for the company in a report on Thursday, July 28th. Finally, Credit Suisse Group AG dropped their target price on shares of Norfolk Southern Corp. from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. Norfolk Southern Corp. has a consensus rating of “Hold” and an average target price of $89.40.

In other news, VP James A. Hixon sold 10,000 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the vice president now owns 129,074 shares in the company, valued at $12,152,317.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marta R. Stewart sold 3,064 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $91.56, for a total transaction of $280,539.84. Following the completion of the sale, the executive vice president now owns 10,766 shares in the company, valued at approximately $985,734.96. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

About Norfolk Southern Corp.

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 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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