Manning & Napier Group LLC lifted its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 10.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,323 shares of the railroad operator’s stock after buying an additional 3,917 shares during the quarter. Manning & Napier Group LLC’s holdings in Norfolk Southern were worth $7,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kaizen Advisory LLC increased its position in shares of Norfolk Southern by 138.0% in the second quarter. Kaizen Advisory LLC now owns 664 shares of the railroad operator’s stock worth $100,000 after purchasing an additional 385 shares during the period. Marshall & Sullivan Inc. WA bought a new position in shares of Norfolk Southern in the second quarter worth $102,000. Highlander Capital Management LLC bought a new position in shares of Norfolk Southern in the first quarter worth $106,000. Sun Life Financial INC increased its position in shares of Norfolk Southern by 336.4% in the second quarter. Sun Life Financial INC now owns 768 shares of the railroad operator’s stock worth $116,000 after purchasing an additional 592 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Norfolk Southern in the second quarter worth $117,000. Institutional investors own 72.47% of the company’s stock.

A number of brokerages recently commented on NSC. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, June 26th. Citigroup upgraded Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 price target on the stock in a research report on Monday, June 25th. Stifel Nicolaus raised their price target on Norfolk Southern from $159.00 to $176.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Scotiabank set a $175.00 price target on Norfolk Southern and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, Cowen restated a “buy” rating and issued a $188.00 price target on shares of Norfolk Southern in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $171.20.

Norfolk Southern stock opened at $170.19 on Friday. Norfolk Southern Corp. has a 12-month low of $125.59 and a 12-month high of $186.91. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $50.55 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.65 and a beta of 1.39.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.19. Norfolk Southern had a return on equity of 14.53% and a net margin of 52.36%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the business posted $1.71 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts anticipate that Norfolk Southern Corp. will post 9.14 earnings per share for the current fiscal year.

In other news, Chairman James A. Squires sold 34,077 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $171.73, for a total transaction of $5,852,043.21. Following the sale, the chairman now directly owns 63,958 shares in the company, valued at $10,983,507.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Cynthia C. Earhart sold 2,370 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $175.09, for a total value of $414,963.30. Following the sale, the vice president now owns 2,370 shares in the company, valued at $414,963.30. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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