Princeton Portfolio Strategies Group LLC continued to hold its position in Norfolk Souther Corporation (NYSE:NSC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,494 shares of the railroad operator’s stock at the end of the second quarter. Princeton Portfolio Strategies Group LLC’s holdings in Norfolk Souther Corporation were worth $1,521,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Norfolk Souther Corporation by 3,039.1% during the 1st 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 in the last quarter. Alliancebernstein L.P. increased its position in Norfolk Souther Corporation by 936.1% during the 1st 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 in the last quarter. JPMorgan Chase & Co. increased its position in Norfolk Souther Corporation by 31.8% during the 1st 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 in the last quarter. Lazard Asset Management LLC increased its position in Norfolk Souther Corporation by 17.1% during the 2nd 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 in the last quarter. Finally, Investec Asset Management LTD bought a new position in Norfolk Souther Corporation during the 1st quarter valued at approximately $92,710,000. Institutional investors own 70.45% of the company’s stock.

Norfolk Souther Corporation (NYSE:NSC) opened at 130.24 on Friday. The stock has a market capitalization of $37.53 billion, a P/E ratio of 21.16 and a beta of 1.38. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $134.52. The stock has a 50 day moving average price of $128.79 and a 200-day moving average price of $120.68.

Norfolk Souther Corporation (NYSE:NSC) last released its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the 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 the consensus estimate of $2.64 billion. During the same period in the prior year, the firm earned $1.36 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. Equities research analysts expect that Norfolk Souther Corporation will post $6.36 EPS for the current year.

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

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

A number of research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $75.00 price objective (down previously from $77.00) on shares of Norfolk Souther Corporation in a research report on Monday, October 2nd. Wells Fargo & Co lowered Norfolk Souther Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday. ValuEngine lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Citigroup Inc. raised their price objective on Norfolk Souther Corporation from $124.00 to $135.00 and gave the company a “neutral” rating in a research report on Wednesday, October 4th. Finally, J P Morgan Chase & Co raised their price objective on Norfolk Souther Corporation from $121.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $118.38.

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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