Carnegie Capital Asset Management LLC lessened its holdings in Norfolk Souther Corporation (NYSE:NSC) by 6.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,284 shares of the railroad operator’s stock after selling 400 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Norfolk Souther Corporation were worth $707,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. D Orazio & Associates Inc. increased its stake in Norfolk Souther Corporation by 0.5% in the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after buying an additional 4 shares in the last quarter. QCI Asset Management Inc. NY increased its stake in Norfolk Souther Corporation by 0.5% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after buying an additional 5 shares in the last quarter. Alexandria Capital LLC increased its stake in Norfolk Souther Corporation by 0.4% in the 2nd quarter. Alexandria Capital LLC now owns 1,865 shares of the railroad operator’s stock worth $227,000 after buying an additional 7 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in Norfolk Souther Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock worth $126,000 after buying an additional 8 shares in the last quarter. Finally, Ronna Sue Cohen increased its stake in Norfolk Souther Corporation by 0.5% in the 2nd quarter. Ronna Sue Cohen now owns 2,761 shares of the railroad operator’s stock worth $336,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.

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A number of equities research analysts have issued reports on the company. Wolfe Research upgraded Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Monday, August 7th. Morgan Stanley reiterated an “underweight” rating and issued a $75.00 price target (down previously from $77.00) on shares of Norfolk Souther Corporation in a research note on Monday, October 2nd. ValuEngine lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. 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. Finally, Credit Suisse Group restated a “buy” rating and set a $143.00 price objective (up previously 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 issued a hold rating and seven have given a buy rating to the company’s stock. Norfolk Souther Corporation currently has a consensus rating of “Hold” and an average target price of $118.38.

In other news, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were 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 of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction that occurred 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 directly owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. In the last three months, insiders sold 27,077 shares of company stock valued at $3,244,531. Corporate insiders own 0.36% of the company’s stock.

Norfolk Souther Corporation (NYSE NSC) opened at 133.69 on Friday. The company has a market cap of $38.53 billion, a P/E ratio of 21.72 and a beta of 1.38. Norfolk Souther Corporation has a one year low of $89.95 and a one year high of $133.97. The company has a 50 day moving average of $127.13 and a 200-day moving average of $120.06.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the 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 business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the company posted $1.36 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts expect that Norfolk Souther Corporation will post $6.35 earnings per share for the current fiscal year.

Norfolk Souther Corporation announced that its board has initiated a share buyback program on Tuesday, September 26th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the railroad operator to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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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