Norfolk Southern Corp. (NSC) Shares Bought by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA increased its stake in Norfolk Southern Corp. (NYSE:NSC) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,627 shares of the railroad operator’s stock after purchasing an additional 16,002 shares during the period. Norfolk Southern makes up 1.5% of Berkshire Asset Management LLC PA’s holdings, making the stock its 28th largest position. Berkshire Asset Management LLC PA’s holdings in Norfolk Southern were worth $15,595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSC. Commonwealth Bank of Australia boosted its stake in Norfolk Southern by 2,921.5% in the 3rd quarter. Commonwealth Bank of Australia now owns 1,277,777 shares of the railroad operator’s stock worth $168,353,000 after purchasing an additional 1,235,488 shares during the period. Lazard Asset Management LLC boosted its stake in Norfolk Southern 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 period. FMR LLC boosted its stake in Norfolk Southern 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 period. BlackRock Inc. boosted its stake in Norfolk Southern 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 period. Finally, Investec Asset Management LTD boosted its stake in Norfolk Southern by 83.8% in the 2nd quarter. Investec Asset Management LTD now owns 1,521,453 shares of the railroad operator’s stock worth $185,161,000 after purchasing an additional 693,463 shares during the period. 72.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Norfolk Southern Corp. (NYSE NSC) opened at $154.05 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73. The stock has a market cap of $44,080.00, a PE ratio of 24.49, a PEG ratio of 1.71 and a beta of 1.37. Norfolk Southern Corp. has a fifty-two week low of $105.89 and a fifty-two week high of $157.15.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.11. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Norfolk Southern had a net margin of 17.86% and a return on equity of 14.72%. Norfolk Southern’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 EPS. analysts predict that Norfolk Southern Corp. will post 6.48 earnings per share for the current year.

Norfolk Southern announced that its Board of Directors has initiated a share buyback plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the railroad operator to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

A number of brokerages recently weighed in on NSC. Loop Capital lowered shares of Norfolk Southern from a “hold” rating to a “sell” rating and set a $133.00 target price for the company. in a research note on Monday, November 27th. Wells Fargo & Co lowered shares of Norfolk Southern from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Robert W. Baird reaffirmed a “hold” rating and issued a $136.00 target price on shares of Norfolk Southern in a research note on Friday, November 10th. Goldman Sachs Group assumed coverage on shares of Norfolk Southern in a research report on Monday, November 13th. They set a “neutral” rating and a $126.00 price target on the stock. Finally, Morgan Stanley reissued an “underweight” rating and set a $75.00 price target (down from $77.00) on shares of Norfolk Southern in a research report on Monday, October 2nd. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $134.52.

In other news, VP Thomas E. Hurlbut sold 2,370 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total value of $319,262.70. Following the sale, the vice president now directly owns 6,370 shares of the company’s stock, valued at approximately $858,102.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Joseph Wheeler sold 3,568 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $133.00, for a total transaction of $474,544.00. Following the completion of the sale, the chief operating officer now directly owns 15,837 shares in the company, valued at $2,106,321. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,113 shares of company stock worth $1,594,148. 0.36% of the stock is owned by insiders.

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Norfolk Southern 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.

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

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