Seaward Management Limited Partnership held its position in Norfolk Souther Corporation (NYSE:NSC) during the first quarter, Holdings Channel reports. The firm owned 6,426 shares of the railroad operator’s stock at the end of the first quarter. Seaward Management Limited Partnership’s holdings in Norfolk Souther Corporation were worth $719,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Manhattan Co. raised its stake in Norfolk Souther Corporation by 16.6% in the first quarter. First Manhattan Co. now owns 12,984 shares of the railroad operator’s stock valued at $1,260,000 after buying an additional 1,848 shares during the last quarter. Pillar Pacific Capital Management LLC raised its stake in Norfolk Souther Corporation by 0.9% in the first quarter. Pillar Pacific Capital Management LLC now owns 58,450 shares of the railroad operator’s stock valued at $6,544,000 after buying an additional 520 shares during the last quarter. Lee Danner & Bass Inc. raised its stake in Norfolk Souther Corporation by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock valued at $257,000 after buying an additional 7 shares during the last quarter. Berkshire Asset Management LLC PA raised its stake in Norfolk Souther Corporation by 4.7% in the first quarter. Berkshire Asset Management LLC PA now owns 91,187 shares of the railroad operator’s stock valued at $10,210,000 after buying an additional 4,071 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its stake in Norfolk Souther Corporation by 2.0% in the first quarter. Patten & Patten Inc. TN now owns 23,995 shares of the railroad operator’s stock valued at $2,687,000 after buying an additional 475 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Souther Corporation (NSC) traded up 2.23% during trading on Monday, hitting $119.16. 527,709 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $118.78 and its 200 day moving average price is $118.14. Norfolk Souther Corporation has a 12-month low of $87.97 and a 12-month high of $125.31. The stock has a market cap of $34.34 billion, a P/E ratio of 19.36 and a beta of 1.33.

Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the business earned $1.36 EPS. Analysts anticipate 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. Investors of record on Monday, August 7th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s payout ratio is 39.61%.

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NSC has been the topic of several analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research report on Tuesday, June 13th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. UBS AG reaffirmed a “buy” rating and set a $138.00 price target (up previously from $135.00) on shares of Norfolk Souther Corporation in a research report on Friday, April 28th. Finally, Deutsche Bank AG lifted their price target on shares of Norfolk Souther Corporation from $126.00 to $132.00 and gave the company a “buy” rating in a research report 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 issued a buy rating to the company. Norfolk Souther Corporation currently has a consensus rating of “Hold” and a consensus price target of $112.35.

In related news, VP Thomas E. Hurlbut sold 802 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the completion of 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 document filed with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

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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