Huntington National Bank held its stake in shares of Norfolk Southern Corp. (NYSE:NSC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,654 shares of the railroad operator’s stock at the end of the second quarter. Huntington National Bank’s holdings in Norfolk Southern Corp. were worth $3,875,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Skylands Capital LLC raised its stake in shares of Norfolk Southern Corp. by 10.2% in the second quarter. Skylands Capital LLC now owns 176,200 shares of the railroad operator’s stock worth $15,000,000 after buying an additional 16,350 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Norfolk Southern Corp. by 2.1% in the first quarter. Legal & General Group Plc now owns 1,307,343 shares of the railroad operator’s stock worth $108,838,000 after buying an additional 26,895 shares in the last quarter. AXA raised its stake in shares of Norfolk Southern Corp. by 0.7% in the first quarter. AXA now owns 68,952 shares of the railroad operator’s stock worth $5,740,000 after buying an additional 500 shares in the last quarter. BlackRock Japan Co. Ltd raised its stake in shares of Norfolk Southern Corp. by 0.3% in the first quarter. BlackRock Japan Co. Ltd now owns 372,606 shares of the railroad operator’s stock worth $31,019,000 after buying an additional 1,215 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of Norfolk Southern Corp. by 16.6% in the second quarter. Carroll Financial Associates Inc. now owns 2,355 shares of the railroad operator’s stock worth $200,000 after buying an additional 335 shares in the last quarter. Institutional investors and hedge funds own 67.90% of the company’s stock.

Norfolk Southern Corp. (NYSE:NSC) traded up 1.29% during trading on Wednesday, reaching $93.11. The company had a trading volume of 1,253,762 shares. Norfolk Southern Corp. has a 12-month low of $64.51 and a 12-month high of $98.75. The firm’s 50 day moving average price is $91.39 and its 200 day moving average price is $86.77. The firm has a market capitalization of $27.33 billion, a PE ratio of 17.44 and a beta of 1.28.

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

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Monday, August 8th were issued a $0.59 dividend. The ex-dividend date was Thursday, August 4th. This represents a $2.36 annualized dividend and a yield of 2.53%. Norfolk Southern Corp.’s dividend payout ratio (DPR) is presently 44.19%.

Several research analysts have commented on NSC shares. Citigroup Inc. lifted their target price on Norfolk Southern Corp. from $87.00 to $97.00 and gave the stock a “neutral” rating in a report on Tuesday, September 13th. Loop Capital reaffirmed a “hold” rating on shares of Norfolk Southern Corp. in a report on Friday, September 9th. Argus reaffirmed a “buy” rating on shares of Norfolk Southern Corp. in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. started coverage on Norfolk Southern Corp. in a report on Wednesday, June 15th. They set a “market perform” rating on the stock. Finally, Deutsche Bank AG cut their target price on Norfolk Southern Corp. from $90.00 to $89.00 and set a “hold” rating on the stock in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $89.40.

In other news, VP Thomas E. Hurlbut sold 1,017 shares of Norfolk Southern Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $89.30, for a total transaction of $90,818.10. Following the completion of the transaction, the vice president now directly owns 12,597 shares in the company, valued at $1,124,912.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas E. Hurlbut sold 528 shares of Norfolk Southern Corp. stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $88.35, for a total transaction of $46,648.80. Following the transaction, the vice president now owns 11,580 shares of the company’s stock, valued at $1,023,093. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Norfolk Southern Corp. Company Profile

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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