Salem Investment Counselors Inc. lowered its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 0.5% during the first quarter, Holdings Channel reports. The firm owned 4,166 shares of the railroad operator’s stock after selling 22 shares during the period. Salem Investment Counselors Inc.’s holdings in Norfolk Souther Corporation were worth $468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC increased its position in 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 increased its position in 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 increased its position in 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. Signature Estate & Investment Advisors LLC bought a new position in Norfolk Souther Corporation during the first quarter worth approximately $125,000. Finally, Guardian Life Insurance Co. of America increased its position in Norfolk Souther Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock worth $126,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE NSC) traded down 0.04% during midday trading on Thursday, hitting $117.41. 356,518 shares of the stock traded hands. Norfolk Souther Corporation has a 12-month low of $87.97 and a 12-month high of $125.31. The company has a market capitalization of $33.84 billion, a PE ratio of 19.08 and a beta of 1.33. The firm’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 quarterly earnings data 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 firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 EPS. Analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current 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 issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is currently 39.61%.

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NSC has been the topic of a number of research analyst reports. Cowen and Company reiterated 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 upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Tuesday, June 13th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. UBS AG reiterated a “buy” rating and set a $138.00 price objective (up from $135.00) on shares of Norfolk Souther Corporation in a research note on Friday, April 28th. Finally, Deutsche Bank AG increased their price objective 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 research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $112.17.

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