Stifel Financial Corp trimmed its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,537 shares of the railroad operator’s stock after selling 6,748 shares during the period. Stifel Financial Corp’s holdings in Norfolk Souther Corporation were worth $16,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Korea Investment CORP lifted its holdings in shares of Norfolk Souther Corporation by 7.8% in 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 last quarter. Israel Discount Bank of New York purchased a new stake in shares of Norfolk Souther Corporation in the 1st quarter valued at about $456,000. Airain ltd purchased a new stake in shares of Norfolk Souther Corporation in the 2nd quarter valued at about $2,410,000. Pillar Pacific Capital Management LLC lifted its holdings in shares of Norfolk Souther Corporation by 1.2% in 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 last quarter. Finally, South Dakota Investment Council lifted its holdings in shares of Norfolk Souther Corporation by 339.6% in 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 last quarter. 70.60% of the stock is owned by institutional investors.

Several analysts have recently weighed in on NSC shares. Scotiabank downgraded Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Cowen and Company reissued a “buy” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Credit Suisse Group reissued an “outperform” rating and issued a $139.00 target price (up from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 13th. They noted that the move was a valuation call. Stephens reissued an “overweight” rating and issued a $140.00 target price (down from $147.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Finally, BidaskClub downgraded Norfolk Souther Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $118.38.

In related news, VP Thomas E. Hurlbut sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the transaction, the vice president now owns 4,000 shares in the company, valued at $475,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Joseph Wheeler sold 2,370 shares of the firm’s 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 transaction, the chief operating officer now owns 13,492 shares in the company, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. Insiders have sold 27,077 shares of company stock worth $3,244,531 in the last quarter. Company insiders own 0.36% of the company’s stock.

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Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the business earned $1.36 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis.

Norfolk Souther Corporation declared that its board has approved a share buyback plan on Tuesday, September 26th that authorizes the company to buyback 50,000,000 outstanding shares. This buyback authorization authorizes the railroad operator to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Norfolk Souther Corporation Company 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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