Zurich Insurance Group Ltd FI decreased its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,840 shares of the railroad operator’s stock after selling 6,118 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Norfolk Souther Corporation were worth $4,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Korea Investment CORP lifted its position in Norfolk Souther Corporation by 7.8% during the 2nd quarter. Korea Investment CORP now owns 269,011 shares of the railroad operator’s stock valued at $32,739,000 after purchasing an additional 19,485 shares during the period. Israel Discount Bank of New York acquired a new position in Norfolk Souther Corporation during the 1st quarter valued at about $456,000. Airain ltd acquired a new position in Norfolk Souther Corporation during the 2nd quarter valued at about $2,410,000. Pillar Pacific Capital Management LLC lifted its position in Norfolk Souther Corporation by 1.2% during the 2nd quarter. Pillar Pacific Capital Management LLC now owns 59,165 shares of the railroad operator’s stock valued at $7,200,000 after purchasing an additional 715 shares during the period. Finally, South Dakota Investment Council lifted its position in Norfolk Souther Corporation by 339.6% during the 1st quarter. South Dakota Investment Council now owns 199,658 shares of the railroad operator’s stock valued at $22,356,000 after purchasing an additional 154,238 shares during the period. Institutional investors and hedge funds own 70.60% of the company’s stock.

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A number of research analysts have issued reports on NSC shares. Wolfe Research upgraded shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Monday, August 7th. Cowen and Company restated a “buy” rating and set a $130.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. UBS AG restated a “buy” rating and set a $133.00 target price on shares of Norfolk Souther Corporation in a research report on Monday, August 14th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Credit Suisse Group restated a “buy” rating and set a $143.00 target price (up from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $118.38.

Norfolk Souther Corporation (NYSE NSC) opened at 131.65 on Friday. The firm has a market cap of $37.94 billion, a P/E ratio of 21.39 and a beta of 1.38. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $134.52. The firm’s 50-day moving average price is $127.81 and its 200-day moving average price is $120.25.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 EPS. 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 plan on Tuesday, September 26th that authorizes the company to buyback 50,000,000 shares. This buyback authorization authorizes the railroad operator to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In related 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 completion of the sale, the chief operating officer now directly owns 13,492 shares in the company, valued at approximately $1,601,230.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the stock in a transaction dated 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 of the company’s stock, valued at $9,173,895.95. The disclosure for this sale can be found here. Insiders have sold a total of 27,077 shares of company stock worth $3,244,531 over the last quarter. Corporate insiders own 0.36% of the company’s stock.

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.

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

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