World Asset Management Inc lowered its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 13.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,598 shares of the railroad operator’s stock after selling 4,136 shares during the period. World Asset Management Inc’s holdings in Norfolk Souther Corporation were worth $3,237,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pillar Pacific Capital Management LLC boosted its position in shares of 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 worth $6,544,000 after buying an additional 520 shares in the last quarter. Lee Danner & Bass Inc. boosted its position in shares of 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 worth $257,000 after buying an additional 7 shares in the last quarter. Israel Discount Bank of New York purchased a new position in shares of Norfolk Souther Corporation during the first quarter worth $456,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of Norfolk Souther Corporation by 11.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 8,326 shares of the railroad operator’s stock worth $932,000 after buying an additional 856 shares in the last quarter. Finally, Tyers Asset Management LLC boosted its position in shares of Norfolk Souther Corporation by 78.6% in the first quarter. Tyers Asset Management LLC now owns 17,344 shares of the railroad operator’s stock worth $1,942,000 after buying an additional 7,632 shares in the last quarter. 70.63% of the stock is currently owned by institutional investors.

Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 120.79 on Thursday. The company has a market capitalization of $34.81 billion, a price-to-earnings ratio of 19.63 and a beta of 1.33. The company’s 50 day moving average price is $118.32 and its 200 day moving average price is $118.11. Norfolk Souther Corporation has a 52-week low of $89.92 and a 52-week high of $125.31.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. On average, 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. Stockholders 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 dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.

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A number of brokerages have commented on NSC. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Wednesday, May 3rd. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $133.00 price target on shares of Norfolk Souther Corporation in a research note on Sunday, May 28th. Deutsche Bank AG cut Norfolk Souther Corporation from a “buy” rating to a “hold” rating and decreased their price target for the stock from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and issued a $117.00 price target on shares of Norfolk Souther Corporation in a research note on Tuesday. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. Norfolk Souther Corporation currently has a consensus rating of “Hold” and a consensus target price of $112.59.

In other news, COO Michael Joseph Wheeler sold 2,370 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $118.68, for a total transaction of $281,271.60. Following the sale, the chief operating officer now owns 13,492 shares of the company’s stock, valued at $1,601,230.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total value of $2,927,619.65. Following the sale, the chairman now directly owns 76,481 shares in the company, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. Insiders have sold 27,077 shares of company stock worth $3,244,531 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

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.

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

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