Norfolk Souther Corporation (NSC) Shares Sold by First Midwest Bank Trust Division

First Midwest Bank Trust Division reduced its stake in Norfolk Souther Corporation (NYSE:NSC) by 9.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,091 shares of the railroad operator’s stock after selling 1,106 shares during the period. First Midwest Bank Trust Division’s holdings in Norfolk Souther Corporation were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in 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 period. Alliancebernstein L.P. boosted 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 during the last quarter. JPMorgan Chase & Co. boosted 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 during the last quarter. Investec Asset Management LTD acquired a new position in shares of Norfolk Souther Corporation during the first quarter worth approximately $92,710,000. Finally, Ameriprise Financial Inc. boosted 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 during the last quarter. Institutional investors own 70.59% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE:NSC) traded up 1.36% during mid-day trading on Friday, reaching $117.01. The company had a trading volume of 583,464 shares. Norfolk Souther Corporation has a 1-year low of $87.97 and a 1-year high of $125.31. The stock has a market capitalization of $33.72 billion, a price-to-earnings ratio of 19.01 and a beta of 1.33. The firm has a 50-day moving average price of $118.80 and a 200-day moving average price of $118.12.

Norfolk Souther Corporation (NYSE:NSC) last issued 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. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 EPS. Equities analysts expect that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is currently 39.61%.

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A number of research analysts have commented on NSC shares. TD Securities reiterated a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Deutsche Bank AG increased 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. UBS AG reiterated a “buy” rating and set a $138.00 price target (up from $135.00) on shares of Norfolk Souther Corporation in a research report on Friday, April 28th. Stifel Nicolaus increased their price target on shares of Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Wednesday, May 3rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. Norfolk Souther Corporation presently has a consensus rating of “Hold” and a consensus price target of $112.17.

In related news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 4,300 shares in the company, valued at approximately $501,122. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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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