CS Mckee LP cut its stake in Norfolk Souther Corporation (NYSE:NSC) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,350 shares of the railroad operator’s stock after selling 1,650 shares during the quarter. CS Mckee LP’s holdings in Norfolk Souther Corporation were worth $13,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of NSC. Trexquant Investment LP raised its stake in shares of Norfolk Souther Corporation by 21.6% in the first quarter. Trexquant Investment LP now owns 16,300 shares of the railroad operator’s stock worth $1,825,000 after purchasing an additional 2,900 shares during the last quarter. Carret Asset Management LLC raised its stake in shares of Norfolk Souther Corporation by 2.6% in the first quarter. Carret Asset Management LLC now owns 7,015 shares of the railroad operator’s stock worth $785,000 after purchasing an additional 180 shares during the last quarter. Family Legacy Inc. purchased a new stake in shares of Norfolk Souther Corporation in the first quarter worth approximately $325,000. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Norfolk Souther Corporation by 75.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 58,734 shares of the railroad operator’s stock worth $6,576,000 after purchasing an additional 25,211 shares during the last quarter. Finally, South State Corp raised its stake in shares of Norfolk Souther Corporation by 4.1% in the first quarter. South State Corp now owns 2,546 shares of the railroad operator’s stock worth $286,000 after purchasing an additional 100 shares during the last quarter. 70.45% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. Scotiabank lowered Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Cowen and Company reaffirmed 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 reaffirmed 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 reaffirmed 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 lowered Norfolk Souther Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company. Norfolk Souther Corporation currently has a consensus rating of “Hold” and a consensus price target of $118.88.

Norfolk Souther Corporation (NYSE:NSC) opened at 132.75 on Friday. Norfolk Souther Corporation has a 12-month low of $89.95 and a 12-month high of $134.52. The company has a market capitalization of $38.26 billion, a price-to-earnings ratio of 21.57 and a beta of 1.38. The stock has a 50 day moving average price of $129.13 and a 200-day moving average price of $120.82.

Norfolk Souther Corporation (NYSE:NSC) last issued 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. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts predict that Norfolk Souther Corporation will post $6.36 EPS for the current fiscal year.

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

In other news, COO Michael Joseph Wheeler sold 2,370 shares of the business’s stock in a transaction 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 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 SEC, which is available at this hyperlink. Also, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $475,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,077 shares of company stock valued at $3,244,531. Insiders own 0.36% of the company’s stock.

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About Norfolk Souther Corporation

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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