Victory Capital Management Inc. boosted its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 20.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,183 shares of the railroad operator’s stock after buying an additional 5,959 shares during the period. Victory Capital Management Inc.’s holdings in Norfolk Southern Corp. were worth $2,995,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Lazard Asset Management LLC raised its position in shares of Norfolk Southern Corp. by 133.8% in the first quarter. Lazard Asset Management LLC now owns 7,098,296 shares of the railroad operator’s stock valued at $590,931,000 after buying an additional 4,062,019 shares in the last quarter. Norges Bank bought a new position in Norfolk Southern Corp. during the fourth quarter valued at about $179,416,000. Bank of New York Mellon Corp raised its position in Norfolk Southern Corp. by 35.5% in the second quarter. Bank of New York Mellon Corp now owns 3,628,950 shares of the railroad operator’s stock valued at $308,932,000 after buying an additional 951,665 shares during the period. American Century Companies Inc. raised its position in Norfolk Southern Corp. by 69.9% in the second quarter. American Century Companies Inc. now owns 1,672,364 shares of the railroad operator’s stock valued at $142,368,000 after buying an additional 687,976 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in Norfolk Southern Corp. during the second quarter valued at about $40,154,000. Hedge funds and other institutional investors own 67.90% of the company’s stock.

Shares of Norfolk Southern Corp. (NYSE:NSC) opened at 91.35 on Friday. The company’s 50 day moving average price is $91.05 and its 200 day moving average price is $86.16. The stock has a market capitalization of $26.82 billion, a PE ratio of 17.11 and a beta of 1.28. Norfolk Southern Corp. has a 12 month low of $64.51 and a 12 month high of $98.75.

Norfolk Southern Corp. (NYSE:NSC) last posted its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Norfolk Southern Corp. had a return on equity of 13.34% and a net margin of 15.88%. The company earned $2.45 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period last year, the firm earned $1.41 EPS. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. Equities analysts anticipate that Norfolk Southern Corp. will post $5.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Monday, August 8th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $2.36 dividend on an annualized basis and a yield of 2.58%. Norfolk Southern Corp.’s payout ratio is 44.19%.

Several equities analysts have issued reports on NSC shares. Argus reiterated a “hold” rating on shares of Norfolk Southern Corp. in a research note on Sunday, May 22nd. Morgan Stanley started coverage on Norfolk Southern Corp. in a research note on Friday, June 3rd. They issued an “underweight” rating and a $71.00 target price on the stock. Oppenheimer Holdings Inc. started coverage on Norfolk Southern Corp. in a research note on Wednesday, June 15th. They issued a “market perform” rating on the stock. Citigroup Inc. reiterated a “hold” rating and issued a $87.00 target price on shares of Norfolk Southern Corp. in a research note on Friday, June 17th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $93.00 target price on shares of Norfolk Southern Corp. in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the stock. Norfolk Southern Corp. currently has an average rating of “Hold” and a consensus target price of $89.40.

In other news, VP Thomas E. Hurlbut sold 1,017 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $89.30, for a total value of $90,818.10. Following the completion of the sale, the vice president now directly owns 12,597 shares of the company’s stock, valued at approximately $1,124,912.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James A. Hixon sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 129,074 shares of the company’s stock, valued at $12,152,317.10. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.

5 Day Chart for NYSE:NSC

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