Norfolk Souther Corporation (NSC) Position Increased by Ropes Wealth Advisors LLC

Ropes Wealth Advisors LLC increased its holdings in shares of Norfolk Souther Corporation (NYSE:NSC) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,160 shares of the railroad operator’s stock after buying an additional 143 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Norfolk Souther Corporation were worth $1,602,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. D Orazio & Associates Inc. raised its position in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after purchasing an additional 4 shares during the last quarter. Harbour Capital Advisors LLC raised its position in Norfolk Souther Corporation by 12,069.6% in the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock valued at $102,000 after purchasing an additional 12,311 shares during the last quarter. AlphaMark Advisors LLC raised its position in Norfolk Souther Corporation by 20.7% in the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after purchasing an additional 150 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Norfolk Souther Corporation by 35.3% in the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock valued at $107,000 after purchasing an additional 250 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 131.49 on Thursday. The company has a market capitalization of $37.89 billion, a price-to-earnings ratio of 21.37 and a beta of 1.38. The company’s 50-day moving average price is $126.71 and its 200-day moving average price is $119.96. Norfolk Souther Corporation has a one year low of $89.95 and a one year high of $133.81.

Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Norfolk Souther Corporation will post $6.35 earnings per share for the current year.

Norfolk Souther Corporation declared that its board has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to buyback 50,000,000 outstanding shares. This buyback authorization permits the railroad operator to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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In other news, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total transaction of $35,640.00. Following the transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $118.68, for a total value of $281,271.60. Following the transaction, the chief operating officer now directly owns 13,492 shares in the company, valued at $1,601,230.56. 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 three months. Insiders own 0.36% of the company’s stock.

Several equities analysts have commented on the company. Aegis reiterated a “hold” rating and issued a $125.00 target price (up from $120.00) on shares of Norfolk Souther Corporation in a research report on Tuesday. Citigroup Inc. increased their price target on Norfolk Souther Corporation from $124.00 to $135.00 and gave the company a “neutral” rating in a research note on Wednesday, October 4th. ValuEngine cut Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Morgan Stanley reissued 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. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $124.00 price target on shares of Norfolk Souther Corporation in a research note on Tuesday, September 12th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. Norfolk Souther Corporation currently has an average rating of “Hold” and a consensus price target of $113.50.

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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