Bank of New York Mellon Corp lessened its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,664,104 shares of the railroad operator’s stock after selling 9,897 shares during the period. Bank of New York Mellon Corp owned approximately 0.93% of Norfolk Souther Corporation worth $352,302,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. D Orazio & Associates Inc. boosted its holdings in shares of Norfolk Souther Corporation by 0.5% during the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after acquiring an additional 4 shares during the period. QCI Asset Management Inc. NY boosted its holdings in shares of Norfolk Souther Corporation by 0.5% during the second quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after acquiring an additional 5 shares during the period. Alexandria Capital LLC boosted its holdings in shares of Norfolk Souther Corporation by 0.4% during the second quarter. Alexandria Capital LLC now owns 1,865 shares of the railroad operator’s stock worth $227,000 after acquiring an additional 7 shares during the period. Guardian Life Insurance Co. of America boosted its holdings in shares of Norfolk Souther Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock worth $126,000 after acquiring an additional 8 shares during the period. Finally, Ronna Sue Cohen boosted its holdings in shares of Norfolk Souther Corporation by 0.5% during the second quarter. Ronna Sue Cohen now owns 2,761 shares of the railroad operator’s stock worth $336,000 after acquiring an additional 13 shares during the period. Institutional investors own 70.88% of the company’s stock.

In related news, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the sale, the vice president now owns 4,000 shares of the company’s stock, valued at $475,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $118.68, for a total transaction of $281,271.60. Following the completion of the sale, the chief operating officer now directly owns 13,492 shares in the company, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. Insiders have sold 6,238 shares of company stock valued at $791,456 over the last quarter. Company insiders own 0.36% of the company’s stock.

NSC has been the subject of a number of research analyst reports. UBS AG restated a “buy” rating and set a $133.00 price objective on shares of Norfolk Souther Corporation in a report on Monday, August 14th. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Monday, August 7th. Credit Suisse Group restated a “buy” rating and set a $143.00 price objective (up previously from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, October 12th. They noted that the move was a valuation call. Finally, Argus boosted their price objective on Norfolk Souther Corporation from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $127.62.

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Shares of Norfolk Souther Corporation (NSC) traded up $0.97 during trading hours on Thursday, hitting $127.39. 92,180 shares of the stock traded hands, compared to its average volume of 1,776,089. The firm has a market capitalization of $36,335.18, a P/E ratio of 19.97, a PEG ratio of 1.64 and a beta of 1.37. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73. Norfolk Souther Corporation has a 52 week low of $102.59 and a 52 week high of $134.52.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.65 billion. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. sell-side analysts expect that Norfolk Souther Corporation will post 6.46 earnings per share for the current fiscal year.

Norfolk Souther Corporation announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 26th that allows the company to repurchase 50,000,000 outstanding shares. This repurchase authorization allows the railroad operator to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $2.44 annualized dividend and a dividend yield of 1.92%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 38.36%.

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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