Clear Perspective Advisors LLC lessened its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 7.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,249 shares of the railroad operator’s stock after selling 100 shares during the quarter. Clear Perspective Advisors LLC’s holdings in Norfolk Souther Corporation were worth $152,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of NSC. D Orazio & Associates Inc. increased its position in Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after purchasing an additional 4 shares in the last quarter. Harbour Capital Advisors LLC increased its position in Norfolk Souther Corporation by 12,069.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after purchasing an additional 12,311 shares in the last quarter. AlphaMark Advisors LLC increased its position in Norfolk Souther Corporation by 20.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC increased its position in Norfolk Souther Corporation by 29.2% during the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after purchasing an additional 220 shares in the last quarter. Finally, Harfst & Associates Inc. increased its position in Norfolk Souther Corporation by 58.8% during the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after purchasing an additional 350 shares in the last quarter. 70.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 129.80 on Tuesday. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $134.52. The stock’s 50 day moving average is $127.81 and its 200-day moving average is $120.30. The firm has a market cap of $37.41 billion, a P/E ratio of 21.09 and a beta of 1.38.

Norfolk Souther Corporation (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. Norfolk Souther Corporation’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share. Equities analysts anticipate that Norfolk Souther Corporation will post $6.36 earnings per share for the current fiscal year.

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

In other news, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of the business’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 value of $35,640.00. Following the sale, the vice president now owns 4,000 shares in the company, valued at $475,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,077 shares of company stock worth $3,244,531. 0.36% of the stock is currently owned by company insiders.

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A number of analysts recently issued reports on the stock. Morgan Stanley reissued an “underweight” rating and set a $75.00 target price (down previously from $77.00) on shares of Norfolk Souther Corporation in a research report on Monday, October 2nd. Wells Fargo & Company downgraded shares of Norfolk Souther Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday. ValuEngine downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Citigroup Inc. increased their target price on shares of Norfolk Souther Corporation from $124.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 4th. Finally, J P Morgan Chase & Co increased their target price on shares of Norfolk Souther Corporation from $121.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Four equities research 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 company has an average rating of “Hold” and a consensus target price of $118.38.

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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