Renaissance Technologies LLC Acquires Shares of 242,100 Norfolk Souther Corporation (NSC)

Renaissance Technologies LLC acquired a new position in shares of Norfolk Souther Corporation (NYSE:NSC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 242,100 shares of the railroad operator’s stock, valued at approximately $27,108,000. Renaissance Technologies LLC owned 0.08% of Norfolk Souther Corporation at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. MCF Advisors LLC boosted its stake in Norfolk Souther Corporation by 31.4% in the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock valued at $106,000 after buying an additional 227 shares during the period. Parkside Financial Bank & Trust boosted its position in Norfolk Souther Corporation by 35.3% in the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after buying an additional 250 shares during the last quarter. Parallel Advisors LLC boosted its position in Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after buying an additional 220 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Norfolk Souther Corporation during the first quarter worth $125,000. Finally, Guardian Life Insurance Co. of America boosted its position in Norfolk Souther Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock worth $126,000 after buying an additional 8 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Norfolk Souther Corporation (NYSE:NSC) traded up 0.97% during trading on Friday, hitting $116.56. 1,101,405 shares of the stock were exchanged. Norfolk Souther Corporation has a 12-month low of $88.07 and a 12-month high of $125.31. The stock’s 50-day moving average price is $118.78 and its 200-day moving average price is $118.14. The firm has a market cap of $33.59 billion, a PE ratio of 18.94 and a beta of 1.33.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating 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 analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the business earned $1.36 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts expect that Norfolk Souther Corporation will post $6.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.

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A number of equities research analysts have recently weighed in on NSC shares. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Wednesday, May 3rd. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group reiterated an “outperform” rating and set a $133.00 price target on shares of Norfolk Souther Corporation in a research note on Sunday, May 28th. Deutsche Bank AG lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and cut their price target for the stock from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, TD Securities reissued a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $112.17.

In other Norfolk Souther Corporation 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 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.

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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