Norfolk Souther Corporation (NYSE:NSC) Shares Bought by BlackRock Inc.

BlackRock Inc. increased its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 3,039.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,551,432 shares of the railroad operator’s stock after buying an additional 18,928,598 shares during the period. BlackRock Inc. owned approximately 6.75% of Norfolk Souther Corporation worth $2,189,172,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. increased its position in shares of Norfolk Souther Corporation by 7.7% in the first quarter. Carroll Financial Associates Inc. now owns 3,635 shares of the railroad operator’s stock worth $407,000 after buying an additional 259 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Norfolk Souther Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 90,811 shares of the railroad operator’s stock worth $10,168,000 after buying an additional 1,220 shares during the last quarter. Chesley Taft & Associates LLC increased its position in shares of Norfolk Souther Corporation by 13.2% in the first quarter. Chesley Taft & Associates LLC now owns 3,000 shares of the railroad operator’s stock worth $336,000 after buying an additional 350 shares during the last quarter. Douglass Winthrop Advisors LLC increased its position in shares of Norfolk Souther Corporation by 2.0% in the first quarter. Douglass Winthrop Advisors LLC now owns 30,079 shares of the railroad operator’s stock worth $3,368,000 after buying an additional 590 shares during the last quarter. Finally, Hills Bank & Trust Co. increased its position in shares of Norfolk Souther Corporation by 1.8% in the first quarter. Hills Bank & Trust Co. now owns 9,653 shares of the railroad operator’s stock worth $1,081,000 after buying an additional 168 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Norfolk Souther Corporation (NSC) traded up 0.96% during trading on Friday, hitting $118.63. 1,448,245 shares of the stock were exchanged. The stock has a market cap of $34.19 billion, a P/E ratio of 19.28 and a beta of 1.33. Norfolk Souther Corporation has a 12 month low of $89.92 and a 12 month high of $125.31. The stock’s 50 day moving average price is $118.72 and its 200 day moving average price is $118.14.

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, beating analysts’ consensus estimates of $1.65 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Analysts forecast that Norfolk Souther Corporation will post $6.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders 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 dividend yield of 2.06%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.

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NSC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Tuesday, June 27th. TD Securities reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a report on Thursday, April 27th. UBS AG reaffirmed a “buy” rating and issued a $138.00 price target (up previously from $135.00) on shares of Norfolk Souther Corporation in a report on Friday, April 28th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $130.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Four equities 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. The company presently has an average rating of “Hold” and a consensus price target of $112.35.

In related news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the sale, 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 available through this link. 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 sale, the chairman now directly owns 76,481 shares in the company, valued at $9,173,895.95. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by 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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