Sandy Spring Bank cut its stake in Norfolk Souther Corporation (NYSE:NSC) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,732 shares of the railroad operator’s stock after selling 920 shares during the period. Sandy Spring Bank’s holdings in Norfolk Souther Corporation were worth $5,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. D Orazio & Associates Inc. raised its holdings in shares of Norfolk Souther Corporation by 0.5% in the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after buying an additional 4 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of Norfolk Souther Corporation by 12,069.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after buying an additional 12,311 shares in the last quarter. Krilogy Financial LLC raised its holdings in shares of Norfolk Souther Corporation by 2.6% in the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after buying an additional 22 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Norfolk Souther Corporation by 20.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after buying an additional 150 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Norfolk Souther Corporation by 29.2% in the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after buying an additional 220 shares in the last quarter. 71.13% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on NSC. Wolfe Research raised Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target for the company in a report on Monday, August 7th. ValuEngine cut Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. UBS AG reaffirmed a “buy” rating and set a $133.00 price target on shares of Norfolk Souther Corporation in a report on Monday, August 14th. BidaskClub cut Norfolk Souther Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. Norfolk Souther Corporation has an average rating of “Hold” and an average target price of $127.26.

In related news, COO Michael Joseph Wheeler sold 3,568 shares of Norfolk Souther Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $133.00, for a total transaction of $474,544.00. Following the completion of the transaction, the chief operating officer now owns 15,837 shares in the company, valued at $2,106,321. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,645 shares of company stock worth $3,719,075. 0.36% of the stock is owned by company insiders.

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Norfolk Souther Corporation (NYSE:NSC) traded down $0.97 on Thursday, hitting $128.36. The company’s stock had a trading volume of 368,403 shares, compared to its average volume of 1,534,903. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.83 and a quick ratio of 0.73. The firm has a market cap of $37,041.96, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37. Norfolk Souther Corporation has a 1 year low of $94.09 and a 1 year high of $134.52.

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

Norfolk Souther Corporation declared that its board has approved a share repurchase program on Tuesday, September 26th that allows the company to buyback 50,000,000 shares. This buyback authorization allows the railroad operator to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 3rd will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, November 2nd. Norfolk Souther Corporation’s dividend payout ratio is currently 38.36%.

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.

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

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