Nicholas Hoffman & Company LLC. Acquires 9 Shares of Norfolk Souther Corporation (NSC)

Nicholas Hoffman & Company LLC. lifted its holdings in Norfolk Souther Corporation (NYSE:NSC) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,598 shares of the railroad operator’s stock after purchasing an additional 9 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Norfolk Souther Corporation were worth $1,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Norfolk Souther Corporation by 3.6% in the 2nd quarter. BlackRock Inc. now owns 20,251,999 shares of the railroad operator’s stock worth $2,464,667,000 after purchasing an additional 700,567 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Norfolk Souther Corporation by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,097,333 shares of the railroad operator’s stock worth $2,445,845,000 after purchasing an additional 631,018 shares during the last quarter. State Street Corp grew its stake in shares of Norfolk Souther Corporation by 2.2% in the 1st quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock worth $1,451,226,000 after purchasing an additional 281,088 shares during the last quarter. FMR LLC grew its stake in shares of Norfolk Souther Corporation by 13.0% in the 2nd quarter. FMR LLC now owns 6,618,986 shares of the railroad operator’s stock worth $805,530,000 after purchasing an additional 762,416 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Norfolk Souther Corporation by 17.1% in the 2nd quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock worth $772,007,000 after purchasing an additional 925,496 shares during the last quarter. 70.60% of the stock is currently owned by institutional investors.

Several research analysts have commented on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $133.00 target price (down from $139.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “sell” rating and issued a $117.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, August 29th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank AG cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $132.00 to $104.00 in a report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $124.00 target price (up from $122.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $118.38.

In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Michael Joseph Wheeler sold 2,370 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was 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 of the company’s stock, valued at approximately $1,601,230.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,077 shares of company stock valued at $3,244,531. 0.36% of the stock is owned by company insiders.

Shares of Norfolk Souther Corporation (NSC) opened at 133.69 on Friday. Norfolk Souther Corporation has a 12-month low of $89.95 and a 12-month high of $133.97. The firm has a market capitalization of $38.53 billion, a PE ratio of 21.72 and a beta of 1.38. The company’s 50 day moving average is $127.13 and its 200 day moving average is $120.06.

Norfolk Souther Corporation (NYSE:NSC) last posted its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the business earned $1.36 EPS. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts forecast 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 share repurchase program on Tuesday, September 26th that permits the company to buyback 50,000,000 shares. This buyback authorization permits the railroad operator to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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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.

Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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