Norfolk Souther Corporation (NYSE:NSC) Shares Sold by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC decreased its stake in Norfolk Souther Corporation (NYSE:NSC) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,600 shares of the railroad operator’s stock after selling 1,000 shares during the period. Fort Pitt Capital Group LLC’s holdings in Norfolk Souther Corporation were worth $1,411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lee Danner & Bass Inc. increased its stake in Norfolk Souther Corporation by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 2,292 shares of the railroad operator’s stock valued at $257,000 after buying an additional 7 shares during the last quarter. Private Bank & Trust Co. increased its stake in Norfolk Souther Corporation by 0.5% in the first quarter. Private Bank & Trust Co. now owns 2,010 shares of the railroad operator’s stock valued at $225,000 after buying an additional 10 shares during the last quarter. WASHINGTON TRUST Co increased its stake in Norfolk Souther Corporation by 0.9% in the first quarter. WASHINGTON TRUST Co now owns 3,331 shares of the railroad operator’s stock valued at $373,000 after buying an additional 31 shares during the last quarter. Savant Capital LLC increased its stake in Norfolk Souther Corporation by 0.7% in the first quarter. Savant Capital LLC now owns 5,599 shares of the railroad operator’s stock valued at $627,000 after buying an additional 41 shares during the last quarter. Finally, McQueen Ball & Associates Inc. increased its stake in Norfolk Souther Corporation by 0.3% in the first quarter. McQueen Ball & Associates Inc. now owns 17,241 shares of the railroad operator’s stock valued at $1,930,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 70.12% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE:NSC) opened at 123.50 on Tuesday. The firm has a market cap of $35.79 billion, a PE ratio of 21.25 and a beta of 1.35. The company has a 50 day moving average price of $118.79 and a 200 day moving average price of $116.32. Norfolk Souther Corporation has a 12-month low of $86.88 and a 12-month high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 26th. The railroad operator reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm posted $1.29 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that Norfolk Souther Corporation will post $6.37 earnings per share for the current fiscal year.

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A number of analysts have recently commented on the company. Royal Bank Of Canada downgraded Norfolk Souther Corporation from a “sector perform” rating to an “underperform” rating and set a $113.00 target price on the stock. in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Loop Capital restated a “hold” rating on shares of Norfolk Souther Corporation in a research note on Saturday, March 25th. TD Securities restated a “hold” rating on shares of Norfolk Souther Corporation in a research note on Thursday, April 27th. Deutsche Bank AG upped their target price 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. Finally, UBS AG restated a “buy” rating and issued a $138.00 target price (up previously from $135.00) on shares of Norfolk Souther Corporation in a research note on Friday, April 28th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $111.56.

In related news, VP Thomas E. Hurlbut sold 802 shares of Norfolk Souther Corporation stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 4,300 shares in the company, valued at approximately $501,122. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 1,427 shares of Norfolk Souther Corporation stock in a transaction that occurred 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 transaction, the vice president now owns 5,102 shares of the company’s stock, valued at $596,525.84. The disclosure for this sale can be found here. Insiders have sold a total of 2,800 shares of company stock valued at $327,494 over 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.

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

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