Northern Trust Corp lowered its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,746,021 shares of the railroad operator’s stock after selling 136,666 shares during the quarter. Northern Trust Corp owned approximately 1.69% of Norfolk Southern worth $716,033,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NSC. KBC Group NV increased its holdings in shares of Norfolk Southern by 40.7% in the first quarter. KBC Group NV now owns 93,563 shares of the railroad operator’s stock valued at $12,703,000 after purchasing an additional 27,086 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Norfolk Southern by 9.5% in the first quarter. Cetera Advisor Networks LLC now owns 10,578 shares of the railroad operator’s stock valued at $1,437,000 after purchasing an additional 918 shares during the last quarter. Candriam Luxembourg S.C.A. increased its holdings in shares of Norfolk Southern by 15.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 25,363 shares of the railroad operator’s stock valued at $3,444,000 after purchasing an additional 3,480 shares during the last quarter. Fayez Sarofim & Co increased its holdings in shares of Norfolk Southern by 2.7% in the first quarter. Fayez Sarofim & Co now owns 13,509 shares of the railroad operator’s stock valued at $1,834,000 after purchasing an additional 350 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Norfolk Southern by 24.3% in the first quarter. Toronto Dominion Bank now owns 153,653 shares of the railroad operator’s stock valued at $20,857,000 after purchasing an additional 30,032 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

NSC has been the subject of several recent research reports. Scotiabank set a $175.00 price target on Norfolk Southern and gave the company a “buy” rating in a report on Wednesday, July 25th. Edward Jones lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Royal Bank of Canada reiterated a “hold” rating and issued a $158.00 price objective on shares of Norfolk Southern in a research report on Friday, July 13th. Deutsche Bank upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Tuesday, August 14th. Finally, Barclays reiterated a “hold” rating and issued a $190.00 price objective on shares of Norfolk Southern in a research report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $171.20.

In related news, Chairman James A. Squires sold 34,077 shares of Norfolk Southern stock in a transaction on Monday, August 13th. The stock was sold at an average price of $171.73, for a total value of $5,852,043.21. Following the completion of the transaction, the chairman now directly owns 63,958 shares in the company, valued at $10,983,507.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Cynthia C. Earhart sold 2,370 shares of Norfolk Southern stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total value of $414,963.30. Following the completion of the transaction, the vice president now owns 2,370 shares of the company’s stock, valued at $414,963.30. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Shares of NSC traded up $2.06 during midday trading on Friday, hitting $170.19. 1,977,539 shares of the stock were exchanged, compared to its average volume of 1,771,331. Norfolk Southern Corp. has a 52-week low of $125.59 and a 52-week high of $186.91. The firm has a market cap of $50.55 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.65 and a beta of 1.39. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.55.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 25th. The railroad operator reported $2.50 EPS for the quarter, topping the consensus estimate of $2.31 by $0.19. Norfolk Southern had a return on equity of 14.53% and a net margin of 52.36%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the business posted $1.71 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Sell-side analysts expect that Norfolk Southern Corp. will post 9.14 earnings per share for the current year.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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