Berkshire Asset Management LLC PA raised its position in Norfolk Souther Corporation (NYSE:NSC) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 92,821 shares of the railroad operator’s stock after buying an additional 1,634 shares during the period. Berkshire Asset Management LLC PA’s holdings in Norfolk Souther Corporation were worth $11,296,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NSC. D Orazio & Associates Inc. raised its position 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 worth $100,000 after buying an additional 4 shares during the period. MCF Advisors LLC raised its position in shares of Norfolk Souther Corporation by 31.4% in the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock worth $106,000 after buying an additional 227 shares during the period. Parkside Financial Bank & Trust raised its position 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 worth $107,000 after buying an additional 250 shares during the period. Parallel Advisors LLC raised its position 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 worth $114,000 after buying an additional 220 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Norfolk Souther Corporation during the first quarter worth approximately $125,000. Institutional investors own 70.59% of the company’s stock.

Norfolk Souther Corporation (NSC) traded down 1.29% during midday trading on Thursday, hitting $115.95. 637,784 shares of the stock traded hands. Norfolk Souther Corporation has a 52 week low of $87.61 and a 52 week high of $125.31. The stock has a market capitalization of $33.41 billion, a P/E ratio of 18.84 and a beta of 1.33. The stock’s 50-day moving average price is $118.86 and its 200-day moving average price is $118.14.

Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the company posted $1.36 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be given a $0.61 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.08%. Norfolk Souther Corporation’s dividend payout ratio is 39.61%.

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NSC has been the topic of a number of recent research reports. Cowen and Company reiterated a “buy” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a report on Tuesday, June 13th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. UBS AG reiterated a “buy” rating and set a $138.00 price target (up previously from $135.00) on shares of Norfolk Souther Corporation in a report on Friday, April 28th. Finally, Deutsche Bank AG lifted their price target on shares of Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $112.17.

In other news, VP Thomas E. Hurlbut sold 1,427 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $116.92, for a total value of $166,844.84. Following the completion of the sale, the vice president now directly owns 5,102 shares of the company’s stock, valued at approximately $596,525.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 802 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $116.54, for a total transaction of $93,465.08. Following the completion of the sale, the vice president now directly owns 4,300 shares of the company’s stock, valued at $501,122. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

About Norfolk Souther Corporation

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.

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

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