Bank of Nova Scotia boosted its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 915.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,745 shares of the railroad operator’s stock after buying an additional 60,171 shares during the period. Bank of Nova Scotia’s holdings in Norfolk Souther Corporation were worth $7,474,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of NSC. D Orazio & Associates Inc. increased 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 last quarter. MCF Advisors LLC increased 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 last quarter. Parkside Financial Bank & Trust increased 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 last quarter. Parallel Advisors LLC increased 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 last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Norfolk Souther Corporation during the first quarter worth approximately $125,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE NSC) traded up 0.97% on Friday, hitting $116.56. The stock had a trading volume of 1,101,405 shares. The stock has a market capitalization of $33.59 billion, a PE ratio of 18.94 and a beta of 1.33. Norfolk Souther Corporation has a one year low of $88.07 and a one year high of $125.31. The firm’s 50 day moving average is $118.78 and its 200-day moving average is $118.14.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Watch List News and is the property of of Watch List News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright and trademark laws. The correct version of this news story can be read at https://www.watchlistnews.com/norfolk-souther-corporation-nsc-shares-bought-by-bank-of-nova-scotia/1479378.html.

A number of research analysts recently commented on NSC shares. Cowen and Company restated a “buy” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research note on Tuesday, June 13th. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Deutsche Bank AG increased their price target on Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Finally, UBS AG reissued a “buy” rating and issued a $138.00 price target (up previously from $135.00) on shares of Norfolk Souther Corporation in a research note on Friday, April 28th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $112.65.

In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 802 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $116.54, for a total value of $93,465.08. Following the transaction, the vice president now owns 4,300 shares in the company, valued at $501,122. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.36% of the company’s stock.

Norfolk Souther Corporation Company 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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Souther Corporation (NYSE:NSC).

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

Receive News & Ratings for Norfolk Souther Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Souther Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.