Virginia Retirement Systems ET AL Acquires 800 Shares of Norfolk Souther Corporation (NSC)

Virginia Retirement Systems ET AL grew its holdings in Norfolk Souther Corporation (NYSE:NSC) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 131,200 shares of the railroad operator’s stock after purchasing an additional 800 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Norfolk Souther Corporation were worth $15,967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Alethea Capital Management LLC bought a new position in shares of Norfolk Souther Corporation in the 2nd quarter valued at about $1,818,000. MARSHALL WACE ASIA Ltd boosted its stake in shares of Norfolk Souther Corporation by 18.2% in the 2nd quarter. MARSHALL WACE ASIA Ltd now owns 524,507 shares of the railroad operator’s stock valued at $63,990,000 after purchasing an additional 80,799 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Norfolk Souther Corporation by 23.5% in the 2nd quarter. Federated Investors Inc. PA now owns 247,044 shares of the railroad operator’s stock valued at $30,065,000 after purchasing an additional 47,085 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Norfolk Souther Corporation by 1.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 436,466 shares of the railroad operator’s stock valued at $53,118,000 after purchasing an additional 6,509 shares during the last quarter. Finally, Marshall Wace North America L.P. boosted its stake in shares of Norfolk Souther Corporation by 1,140.7% in 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 last quarter. 70.64% of the stock is currently owned by institutional investors.

In other news, COO Michael Joseph Wheeler sold 2,370 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $118.68, for a total transaction of $281,271.60. Following the transaction, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at $1,601,230.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total value of $2,927,619.65. Following the transaction, 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. Insiders have sold 27,077 shares of company stock worth $3,244,531 over the last three months. Insiders own 0.36% of the company’s stock.

Several research analysts have recently issued reports on NSC shares. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $133.00 target price (down previously from $139.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $117.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, August 29th. Deutsche Bank AG lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their target price for the company from $132.00 to $104.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $124.00 target price (up previously from $122.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. Norfolk Souther Corporation has a consensus rating of “Hold” and a consensus price target of $115.00.

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Shares of Norfolk Souther Corporation (NYSE NSC) opened at 128.04 on Friday. The firm has a market capitalization of $36.90 billion, a P/E ratio of 20.81 and a beta of 1.32. The firm’s 50-day moving average is $119.36 and its 200 day moving average is $118.26. Norfolk Souther Corporation has a one year low of $89.95 and a one year high of $128.09.

Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating 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 earned $1.36 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 1.91%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.

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.

Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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