Norfolk Souther Corporation (NSC) Shares Bought by First Command Bank

First Command Bank increased its position in Norfolk Souther Corporation (NYSE:NSC) by 67.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,769 shares of the railroad operator’s stock after buying an additional 3,129 shares during the period. First Command Bank’s holdings in Norfolk Souther Corporation were worth $946,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in NSC. BlackRock Inc. increased its position 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 worth $2,189,172,000 after buying an additional 18,928,598 shares in the last quarter. Alliancebernstein L.P. increased its position 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 worth $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. increased its position 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 worth $471,313,000 after buying an additional 1,016,319 shares in the last quarter. Investec Asset Management LTD bought a new position in shares of Norfolk Souther Corporation during the first quarter worth $92,710,000. Finally, Ameriprise Financial Inc. increased its position 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 worth $208,626,000 after buying an additional 492,922 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

Shares of Norfolk Souther Corporation (NSC) traded up 1.36% during midday trading on Friday, reaching $119.10. 714,691 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $118.75 and a 200-day moving average price of $118.15. Norfolk Souther Corporation has a 52-week low of $89.92 and a 52-week high of $125.31. The stock has a market cap of $34.32 billion, a P/E ratio of 19.35 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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the business earned $1.36 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. Analysts forecast that Norfolk Souther Corporation will post $6.32 earnings per share for the current 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 issued a dividend of $0.61 per share. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 annualized dividend and a yield of 2.08%. Norfolk Souther Corporation’s payout ratio is 39.61%.

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A number of equities analysts have 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 $132.00 target price for the company in a research note on Wednesday, May 3rd. Deutsche Bank AG boosted their target price on shares of Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Stifel Nicolaus boosted their target price on shares of Norfolk Souther Corporation from $114.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, May 1st. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research note on Thursday, April 27th. Finally, ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $112.35.

In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the transaction, the chairman now owns 76,481 shares in the company, valued at approximately $9,173,895.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas E. Hurlbut sold 802 shares of the firm’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 transaction, the vice president now owns 4,300 shares of the company’s stock, valued at approximately $501,122. The disclosure for this sale can be found here. 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.

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

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