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Norfolk Souther Corporation (NSC) Shares Bought by Legal & General Group Plc
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A number of other hedge funds have also modified their holdings of NSC. Alliancebernstein L.P. raised its stake in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after buying an additional 1,016,319 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock worth $208,626,000 after buying an additional 492,922 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Norfolk Souther Corporation by 24.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,532,798 shares of the railroad operator’s stock worth $171,627,000 after buying an additional 304,810 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Norfolk Souther Corporation by 34.7% in the first quarter. American Century Companies Inc. now owns 1,459,919 shares of the railroad operator’s stock worth $163,467,000 after buying an additional 375,745 shares in the last quarter. 70.12% of the stock is currently owned by institutional investors.
Shares of Norfolk Souther Corporation (NYSE NSC) opened at 118.52 on Friday. The stock has a market cap of $34.34 billion, a P/E ratio of 20.39 and a beta of 1.35. Norfolk Souther Corporation has a 52-week low of $86.88 and a 52-week high of $125.31. The firm has a 50-day moving average price of $120.88 and a 200-day moving average price of $117.72.
Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, April 26th. The railroad operator reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. Norfolk Souther Corporation had a return on equity of 13.82% and a net margin of 17.07%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. Norfolk Souther Corporation’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that Norfolk Souther Corporation will post $6.37 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on NSC. Royal Bank Of Canada lowered Norfolk Souther Corporation from a “sector perform” rating to an “underperform” rating and set a $113.00 price target on the stock. in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Loop Capital reaffirmed a “hold” rating on shares of Norfolk Souther Corporation in a research note on Saturday, March 25th. Deutsche Bank AG lifted their price target on Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $139.00 price target (up from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their price target on Norfolk Souther Corporation from $114.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. Norfolk Souther Corporation currently has a consensus rating of “Hold” and an average price target of $111.56.
In other news, VP Thomas E. Hurlbut sold 802 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $116.54, for a total transaction of $93,465.08. Following the sale, the vice president now owns 4,300 shares in the company, valued at $501,122. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas E. Hurlbut sold 1,427 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $116.92, for a total value of $166,844.84. Following the sale, the vice president now owns 5,102 shares in the company, valued at approximately $596,525.84. The disclosure for this sale can be found here. Insiders have sold 2,800 shares of company stock worth $327,494 in the last 90 days. Insiders own 0.36% of the company’s stock.
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.