Fox Run Management L.L.C. Has $475,000 Position in Norfolk Souther Corporation (NSC)

Fox Run Management L.L.C. lowered its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 44.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,900 shares of the railroad operator’s stock after selling 3,100 shares during the period. Fox Run Management L.L.C.’s holdings in Norfolk Souther Corporation were worth $475,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. First Manhattan Co. increased its position in Norfolk Souther Corporation by 16.6% in the first quarter. First Manhattan Co. now owns 12,984 shares of the railroad operator’s stock valued at $1,260,000 after buying an additional 1,848 shares in the last quarter. Pillar Pacific Capital Management LLC increased its position in 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 valued at $6,544,000 after buying an additional 520 shares in the last quarter. Lee Danner & Bass Inc. increased its position in 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 valued at $257,000 after buying an additional 7 shares in the last quarter. Patten & Patten Inc. TN increased its position in Norfolk Souther Corporation by 2.0% in the first quarter. Patten & Patten Inc. TN now owns 23,995 shares of the railroad operator’s stock valued at $2,687,000 after buying an additional 475 shares in the last quarter. Finally, Israel Discount Bank of New York bought a new position in Norfolk Souther Corporation during the first quarter valued at $456,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Norfolk Souther Corporation (NYSE:NSC) traded up 1.36% during midday trading on Friday, hitting $119.10. The company’s stock had a trading volume of 714,691 shares. Norfolk Souther Corporation has a 12-month low of $89.92 and a 12-month high of $125.31. The firm has a market cap of $34.32 billion, a price-to-earnings ratio of 19.35 and a beta of 1.33. The firm has a 50-day moving average of $118.75 and a 200 day moving average of $118.15.

Norfolk Souther Corporation (NYSE:NSC) last released 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 return on equity of 14.45% and a net margin of 17.66%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the business posted $1.36 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts predict that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.08%. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.

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NSC has been the topic of several analyst reports. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Wednesday, May 3rd. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Credit Suisse Group reissued an “outperform” rating and set a $133.00 target price on shares of Norfolk Souther Corporation in a research report on Sunday, May 28th. Deutsche Bank AG downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating and cut their target price for the company from $132.00 to $104.00 in a research report 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 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’s stock. Norfolk Souther Corporation has an average rating of “Hold” and a consensus target price of $112.35.

In other news, VP Thomas E. Hurlbut sold 802 shares of the firm’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 transaction, the vice president now directly owns 4,300 shares in the company, valued at $501,122. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman James A. Squires sold 24,407 shares of the firm’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 transaction, the chairman now owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The disclosure for this sale can be found here. Company 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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