Trade Report: The Roberts Glore & Co. Inc. IL reached $1,075,000 position of Norfolk Southern Corp. (NSC)

The Roberts Glore & Co. Inc. IL reached $1,075,000 position  of Norfolk Southern Corp. (NSC)

Roberts Glore & Co. Inc. IL decreased its stake in Norfolk Southern Corp. (NYSE:NSC) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 12,625 shares of the railroad operator’s stock after selling 100 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Norfolk Southern Corp. were worth $1,075,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NSC. State Street Corp raised its position in Norfolk Southern Corp. by 2.5% in the first quarter. State Street Corp now owns 11,872,179 shares of the railroad operator’s stock valued at $988,362,000 after buying an additional 293,001 shares during the period. Lazard Asset Management LLC raised its position in Norfolk Southern Corp. by 133.8% in the first quarter. Lazard Asset Management LLC now owns 7,098,296 shares of the railroad operator’s stock valued at $590,931,000 after buying an additional 4,062,019 shares during the period. American Century Companies Inc. raised its position in Norfolk Southern Corp. by 69.9% in the second quarter. American Century Companies Inc. now owns 1,672,364 shares of the railroad operator’s stock valued at $142,368,000 after buying an additional 687,976 shares during the period. Legal & General Group Plc raised its position in Norfolk Southern Corp. by 2.1% in the first quarter. Legal & General Group Plc now owns 1,307,343 shares of the railroad operator’s stock valued at $108,838,000 after buying an additional 26,895 shares during the period. Finally, Cornerstone Investment Partners LLC raised its position in Norfolk Southern Corp. by 36.7% in the second quarter. Cornerstone Investment Partners LLC now owns 1,151,101 shares of the railroad operator’s stock valued at $97,993,000 after buying an additional 308,815 shares during the period. Hedge funds and other institutional investors own 67.90% of the company’s stock.

Norfolk Southern Corp. (NYSE:NSC) traded up 0.13% during midday trading on Friday, reaching $94.94. 1,473,615 shares of the company traded hands. The company’s 50-day moving average price is $93.94 and its 200 day moving average price is $88.37. The firm has a market capitalization of $27.87 billion, a PE ratio of 17.78 and a beta of 1.27. Norfolk Southern Corp. has a 12 month low of $64.51 and a 12 month high of $98.75.

Norfolk Southern Corp. (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Norfolk Southern Corp. had a net margin of 15.88% and a return on equity of 13.34%. Norfolk Southern Corp.’s revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. On average, equities analysts anticipate that Norfolk Southern Corp. will post $5.46 earnings per share for the current year.

Several research analysts recently commented on NSC shares. Argus reiterated a “buy” rating on shares of Norfolk Southern Corp. in a research note on Wednesday, August 3rd. Loop Capital restated a “hold” rating on shares of Norfolk Southern Corp. in a research note on Friday, September 9th. Zacks Investment Research upgraded shares of Norfolk Southern Corp. from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Friday, October 7th. Deutsche Bank AG cut their price target on shares of Norfolk Southern Corp. from $90.00 to $89.00 and set a “hold” rating on the stock in a research note on Thursday, July 28th. Finally, Atlantic Securities started coverage on shares of Norfolk Southern Corp. in a research note on Thursday, August 11th. They set a “neutral” rating and a $104.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. Norfolk Southern Corp. presently has a consensus rating of “Hold” and an average price target of $90.93.

In other Norfolk Southern Corp. news, VP Thomas E. Hurlbut sold 528 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $88.35, for a total value of $46,648.80. Following the transaction, the vice president now directly owns 11,580 shares of the company’s stock, valued at approximately $1,023,093. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marta R. Stewart sold 3,064 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $91.56, for a total transaction of $280,539.84. Following the completion of the transaction, the executive vice president now directly owns 10,766 shares in the company, valued at $985,734.96. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Norfolk Southern Corp. Company Profile

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 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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