Teachers Retirement System of The State of Kentucky reduced its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 9.9% during the first quarter, Holdings Channel reports. The firm owned 32,800 shares of the railroad operator’s stock after selling 3,600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Norfolk Souther Corporation were worth $3,673,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted 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. State Street Corp boosted its stake in shares of Norfolk Souther Corporation by 2.2% in the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock valued at $1,451,226,000 after buying an additional 281,088 shares during the last quarter. Alliancebernstein L.P. boosted 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. boosted 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. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Norfolk Souther Corporation by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,800 shares of the railroad operator’s stock valued at $392,383,000 after buying an additional 30,856 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Shares of Norfolk Souther Corporation (NYSE:NSC) traded up 0.97% on Friday, reaching $116.56. 1,101,405 shares of the company’s stock were exchanged. Norfolk Souther Corporation has a one year low of $88.07 and a one year high of $125.31. The firm has a market capitalization of $33.59 billion, a P/E ratio of 18.94 and a beta of 1.33. The firm has a 50 day moving average of $118.78 and a 200 day moving average of $118.14.

Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a yield of 2.09%. Norfolk Souther Corporation’s payout ratio is currently 39.61%.

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Several equities research analysts have recently weighed in on NSC shares. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a research report on Tuesday, June 27th. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. UBS AG reaffirmed a “buy” rating and issued a $138.00 price target (up previously from $135.00) on shares of Norfolk Souther Corporation in a research report on Friday, April 28th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $112.65.

In other news, VP Thomas E. Hurlbut sold 802 shares of Norfolk Souther Corporation stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total value of $93,465.08. Following the transaction, the vice president now directly owns 4,300 shares of the company’s stock, valued at approximately $501,122. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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