Boston Family Office LLC Has $2,282,000 Holdings in Norfolk Souther Corporation (NSC)

Boston Family Office LLC maintained its position in Norfolk Souther Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,753 shares of the railroad operator’s stock at the close of the 2nd quarter. Boston Family Office LLC’s holdings in Norfolk Souther Corporation were worth $2,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. raised its stake in shares of Norfolk Souther Corporation by 1,140.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 29,206 shares of the railroad operator’s stock valued at $3,564,000 after purchasing an additional 26,852 shares during the period. Comprehensive Portfolio Management LLC bought a new stake in shares of Norfolk Souther Corporation during the 2nd quarter valued at $967,000. Investment Management of Virginia LLC raised its stake in shares of Norfolk Souther Corporation by 0.4% during the 2nd quarter. Investment Management of Virginia LLC now owns 29,424 shares of the railroad operator’s stock valued at $3,581,000 after purchasing an additional 106 shares during the period. BB&T Securities LLC raised its stake in shares of Norfolk Souther Corporation by 6.1% during the 2nd quarter. BB&T Securities LLC now owns 114,295 shares of the railroad operator’s stock valued at $13,909,000 after purchasing an additional 6,543 shares during the period. Finally, ZWJ Investment Counsel Inc. raised its stake in shares of Norfolk Souther Corporation by 7.0% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 9,685 shares of the railroad operator’s stock valued at $1,179,000 after purchasing an additional 633 shares during the period. Institutional investors own 70.64% of the company’s stock.

Norfolk Souther Corporation (NYSE:NSC) opened at 126.97 on Friday. The stock has a 50 day moving average price of $118.93 and a 200-day moving average price of $118.22. Norfolk Souther Corporation has a 12-month low of $89.95 and a 12-month high of $127.94. The stock has a market capitalization of $36.59 billion, a PE ratio of 20.63 and a beta of 1.32.

Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The business’s revenue 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 fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were issued a $0.61 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 1.92%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.

In other news, Chairman James A. Squires sold 24,407 shares of Norfolk Souther Corporation stock in a transaction dated 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 sale, the chairman now directly owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of Norfolk Souther Corporation stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $118.68, for a total value of $281,271.60. Following the completion of the sale, the chief operating officer now directly owns 13,492 shares in the company, valued at $1,601,230.56. The disclosure for this sale can be found here. Insiders sold 27,077 shares of company stock worth $3,244,531 over the last ninety days. Insiders own 0.36% of the company’s stock.

A number of research firms recently issued reports on NSC. Stifel Nicolaus reiterated a “hold” rating and set a $124.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday. ValuEngine upgraded 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 $139.00 price objective (up from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company reiterated a “buy” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Finally, Scotiabank lowered Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. Norfolk Souther Corporation has a consensus rating of “Hold” and a consensus price target of $115.00.

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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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