Krilogy Financial LLC raised its stake in Norfolk Souther Corporation (NYSE:NSC) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 855 shares of the railroad operator’s stock after purchasing an additional 22 shares during the quarter. Krilogy Financial LLC’s holdings in Norfolk Souther Corporation were worth $104,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock valued at $2,189,172,000 after buying an additional 18,928,598 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock valued at $602,226,000 after buying an additional 4,859,355 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock valued at $471,313,000 after buying an additional 1,016,319 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Norfolk Souther Corporation by 17.1% in the second quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock valued at $772,007,000 after buying an additional 925,496 shares during the last quarter. Finally, Investec Asset Management LTD acquired a new stake in shares of Norfolk Souther Corporation in the first quarter valued at approximately $92,710,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.

In related news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction on 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 owns 76,481 shares in the company, valued at $9,173,895.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the sale, the vice president now owns 4,000 shares in the company, valued at approximately $475,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,077 shares of company stock worth $3,244,531. Company insiders own 0.36% of the company’s stock.

A number of analysts have recently issued reports on NSC shares. Morgan Stanley reaffirmed an “underweight” rating and issued a $75.00 price objective (down from $77.00) on shares of Norfolk Souther Corporation in a research report on Monday, October 2nd. ValuEngine raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $139.00 price objective (up from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 13th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $117.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $118.88.

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Norfolk Souther Corporation (NYSE NSC) opened at 132.75 on Monday. The firm has a 50-day moving average price of $129.13 and a 200 day moving average price of $120.82. Norfolk Souther Corporation has a one year low of $89.95 and a one year high of $134.52. The firm has a market capitalization of $38.26 billion, a PE ratio of 21.57 and a beta of 1.38.

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, topping the consensus estimate of $1.65 by $0.06. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 earnings per share. Analysts anticipate that Norfolk Souther Corporation will post $6.36 EPS for the current fiscal year.

Norfolk Souther Corporation announced that its Board of Directors has initiated a share buyback program on Tuesday, September 26th that allows the company to repurchase 50,000,000 outstanding shares. This repurchase authorization allows the railroad operator to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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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