Norfolk Souther Corporation (NSC) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,330 shares of the railroad operator’s stock after selling 6,028 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.07% of Norfolk Souther Corporation worth $25,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pillar Pacific Capital Management LLC raised its position in shares of Norfolk Souther Corporation by 0.9% during the 1st quarter. Pillar Pacific Capital Management LLC now owns 58,450 shares of the railroad operator’s stock worth $6,544,000 after purchasing an additional 520 shares during the last quarter. Lee Danner & Bass Inc. raised its position in shares of Norfolk Souther Corporation by 0.3% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock worth $257,000 after purchasing an additional 7 shares during the last quarter. Israel Discount Bank of New York acquired a new position in shares of Norfolk Souther Corporation during the 1st quarter worth about $456,000. Commerzbank Aktiengesellschaft FI raised its position in shares of Norfolk Souther Corporation by 11.5% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 8,326 shares of the railroad operator’s stock worth $932,000 after purchasing an additional 856 shares during the last quarter. Finally, Tyers Asset Management LLC raised its position in shares of Norfolk Souther Corporation by 78.6% during the 1st quarter. Tyers Asset Management LLC now owns 17,344 shares of the railroad operator’s stock worth $1,942,000 after purchasing an additional 7,632 shares during the last quarter. Hedge funds and other institutional investors own 70.64% of the company’s stock.

A number of analysts have commented on the stock. Cowen and Company reiterated a “buy” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a report on Tuesday, June 13th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Wolfe Research upgraded shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Monday, August 7th. Finally, UBS AG reiterated a “buy” rating and issued a $133.00 price objective on shares of Norfolk Souther Corporation in a report on Monday, August 14th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. Norfolk Souther Corporation presently has a consensus rating of “Hold” and a consensus price target of $112.59.

In related news, COO Michael Joseph Wheeler sold 2,370 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $118.68, for a total transaction of $281,271.60. Following the completion of the transaction, the chief operating officer now owns 13,492 shares of the company’s stock, valued at $1,601,230.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the transaction, the chairman now directly owns 76,481 shares of the company’s stock, 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 valued at $3,244,531 in the last ninety days. 0.36% of the stock is currently owned by company insiders.

Norfolk Souther Corporation (NYSE:NSC) opened at 123.92 on Monday. The company’s 50 day moving average is $117.91 and its 200-day moving average is $118.07. The stock has a market cap of $35.71 billion, a PE ratio of 20.14 and a beta of 1.32. 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 issued its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 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 in the prior year, the business posted $1.36 earnings per share. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.

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Norfolk Souther Corporation 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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