State Street Corp trimmed its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,529,389 shares of the railroad operator’s stock after selling 431,408 shares during the period. State Street Corp owned approximately 4.35% of Norfolk Souther Corporation worth $1,524,836,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D Orazio & Associates Inc. grew its holdings in Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after acquiring an additional 4 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in Norfolk Souther Corporation by 12,069.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after acquiring an additional 12,311 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in Norfolk Souther Corporation by 20.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after acquiring an additional 150 shares in the last quarter. Parallel Advisors LLC grew its holdings in Norfolk Souther Corporation by 29.2% during the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after acquiring an additional 220 shares in the last quarter. Finally, Harfst & Associates Inc. grew its holdings in Norfolk Souther Corporation by 58.8% during the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after acquiring an additional 350 shares in the last quarter. 70.45% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on NSC shares. Credit Suisse Group reissued a “buy” rating and set a $143.00 price objective (up from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, October 12th. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “sell” rating and set a $117.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, August 29th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank AG lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $132.00 to $104.00 in a report on Monday, July 31st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $124.00 price objective (up from $122.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $118.38.

In other news, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction 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 sale, the chairman now owns 76,481 shares in the company, valued at approximately $9,173,895.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $118.68, for a total transaction of $281,271.60. Following the completion of the sale, the chief operating officer now owns 13,492 shares in the company, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. Insiders sold a total of 27,077 shares of company stock worth $3,244,531 in the last 90 days. 0.36% of the stock is owned by corporate insiders.

Shares of Norfolk Souther Corporation (NYSE NSC) opened at 130.52 on Thursday. Norfolk Souther Corporation has a 12 month low of $89.95 and a 12 month high of $134.52. The company has a 50-day moving average of $128.51 and a 200 day moving average of $120.61. The company has a market capitalization of $37.61 billion, a P/E ratio of 21.21 and a beta of 1.38.

Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the company earned $1.36 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts forecast that Norfolk Souther Corporation will post $6.36 EPS for the current year.

Norfolk Souther Corporation announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the railroad operator to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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Norfolk Souther Corporation 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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