Zacks Investment Management Has $37.35 Million Holdings in Norfolk Souther Corporation (NSC)

Zacks Investment Management boosted its stake in shares of Norfolk Souther Corporation (NYSE:NSC) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,909 shares of the railroad operator’s stock after buying an additional 6,352 shares during the period. Zacks Investment Management owned 0.11% of Norfolk Souther Corporation worth $37,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NSC. D Orazio & Associates Inc. lifted its holdings in Norfolk Souther Corporation by 0.5% during the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after buying an additional 4 shares during the period. Harbour Capital Advisors LLC lifted its holdings in Norfolk Souther Corporation by 12,069.6% during the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after buying an additional 12,311 shares during the period. AlphaMark Advisors LLC lifted its holdings in Norfolk Souther Corporation by 20.7% during the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after buying an additional 150 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Norfolk Souther Corporation by 35.3% during the first quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after buying an additional 250 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Norfolk Souther Corporation by 29.2% during the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after buying an additional 220 shares during the period. Institutional investors own 70.60% of the company’s stock.

A number of analysts have weighed in on NSC shares. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $139.00 price target (up from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 13th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “sell” rating and set a $117.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Cowen and Company reaffirmed a “buy” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $124.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, September 12th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $118.38.

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In related news, 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 value of $35,640.00. Following the completion of the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at $475,200. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now directly owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,077 shares of company stock valued at $3,244,531. 0.36% of the stock is owned by corporate insiders.

Norfolk Souther Corporation (NSC) opened at 133.69 on Friday. The firm has a market capitalization of $38.53 billion, a P/E ratio of 21.72 and a beta of 1.38. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $133.97. The company has a 50 day moving average price of $127.13 and a 200 day moving average price of $120.06.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share 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 analysts’ expectations of $2.64 billion. During the same period in the previous year, the company earned $1.36 earnings per share. Norfolk Souther Corporation’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that Norfolk Souther Corporation will post $6.35 EPS for the current fiscal year.

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

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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