Point72 Asset Management L.P. raised its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 431.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 499,983 shares of the railroad operator’s stock after buying an additional 405,983 shares during the period. Point72 Asset Management L.P.’s holdings in Norfolk Souther Corporation were worth $55,983,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock valued at $2,189,172,000 after buying an additional 18,928,598 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock valued at $602,226,000 after buying an additional 4,859,355 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock valued at $471,313,000 after buying an additional 1,016,319 shares during the last quarter. Investec Asset Management LTD purchased a new stake in shares of Norfolk Souther Corporation during the first quarter valued at $92,710,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock valued at $208,626,000 after buying an additional 492,922 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Norfolk Souther Corporation (NSC) traded down 0.04% during trading on Thursday, hitting $117.41. 356,518 shares of the stock traded hands. Norfolk Souther Corporation has a 52 week low of $87.97 and a 52 week high of $125.31. The stock has a market cap of $33.84 billion, a P/E ratio of 19.08 and a beta of 1.33. The firm’s 50-day moving average is $118.86 and its 200 day moving average is $118.14.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is currently 39.61%.

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A number of analysts recently commented on the stock. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Wednesday, May 3rd. Deutsche Bank AG upped their price target on shares of Norfolk Souther Corporation from $126.00 to $132.00 and gave the company a “buy” rating in a report on Friday, April 28th. Stifel Nicolaus upped their price target on shares of Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a report on Monday, May 1st. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a report on Thursday, April 27th. Finally, ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $112.17.

In other news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction that occurred 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 owns 4,300 shares in the company, valued at approximately $501,122. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 1,427 shares of the company’s stock in a transaction that occurred 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 owns 5,102 shares in the company, valued at approximately $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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