Norfolk Southern Corp. (NYSE:NSC) Shares Bought by Legal & General Group Plc

Marco Green
December 17, 2017

Norfolk Souther Corporation has a 12-month low of $78.73 and a 12-month high of $125.31. The institutional investor held 75,365 shares of the railroads company at the end of 2017Q2, valued at $9.17 million, up from 62,100 at the end of the previous reported quarter.

Norfolk Southern declared that its board has authorized a share repurchase program on Tuesday, September 26th that allows the company to repurchase 50,000,000 shares. (NSC) traded down $0.97 during midday trading on Friday, reaching $140.86. The stock exchanged hands with 966937 numbers of shares contrast to its average daily volume of 907.68K shares. It has outperformed by 17.04% the S&P500.

In the past few sessions, investors have started paying a little bit more attention to shares of Norfolk Southern Corporation (NYSE:NSC). Its up 0.11, from 0.76 in 2017Q1. It worsened, as 43 investors sold NSC shares while 347 reduced holdings. 80 funds opened positions while 258 raised stakes. Harbour Capital Advisors LLC increased its position in Norfolk Southern by 12,069.6% during the second quarter. Cypress Asset Mgmt Tx reported 0.33% in Norfolk Southern Corporation (NYSE:NSC). The short interest to Norfolk Southern Corporation's float is 1.26%. Westpac Corporation reported 3,428 shares. Pier Capital Ltd holds 0.8% or 187,824 shares in its portfolio. ValuEngine downgraded Norfolk Southern from a "buy" rating to a "hold" rating in a report on Monday, October 2nd.

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. Similarly, investors look up the share price over 12 month periods. Victory Capital Mgmt Incorporated owns 0.2% invested in Affiliated Managers Group, Inc. The institutional investor held 97,001 shares of the major banks company at the end of 2017Q2, valued at $8.87M, down from 129,745 at the end of the previous reported quarter. South State Corp invested in 3,696 shares or 0.06% of the stock. Jpmorgan Chase reported 2.23M shares or 0.01% of all its holdings.

Shifting gears, we can see that Norfolk Southern Corporation (NYSE:NSC) has a Q.i. (NYSE:LOW) for 3,700 shares.

Smith Salley & Associates, which manages about $331.94 million and $497.44M US Long portfolio, upped its stake in Select Sector Spdr Tr (XLI) by 4,565 shares to 26,328 shares, valued at $1.79 million in 2017Q2, according to the filing. Cornerstone Advsr Inc stated it has 1,343 shares or 0.09% of all its holdings.

Analysts await Norfolk Southern Corporation (NYSE:NSC) to report earnings on January, 24. This is calculated by taking the earnings per share and dividing it by the last closing share price. AMG's profit will be $250.12 million for 11.04 P/E if the $4.50 EPS becomes a reality. After $1.75 actual EPS reported by Norfolk Southern Corporation for the previous quarter, Wall Street now forecasts -10.86% negative EPS growth.

Since August 15, 2017, it had 0 insider purchases, and 4 sales for $3.72 million activity. The insider Wheeler Michael Joseph sold 3,568 shares worth $474,558. The stock was sold at an average price of $134.71, for a total value of $319,262.70. Equities research analysts anticipate that Norfolk Souther Corporation will post $6.35 earnings per share for the current fiscal year. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company's stock. Therefore 18% are positive. Korea Investment CORP boosted its holdings in Norfolk Southern by 7.8% during the 2nd quarter. Robert W. Baird maintained the stock with "Hold" rating in Thursday, October 5 report. The company was maintained on Thursday, July 27 by Credit Suisse. The rating was maintained by RBC Capital Markets on Monday, October 30 with "Buy". The firm earned "Neutral" rating on Wednesday, April 6 by Citigroup. As per Tuesday, October 31, the company rating was maintained by Argus Research. The rating was downgraded by CLSA to "Underperform" on Tuesday, January 10. About 2.77 million shares traded or 86.57% up from the average. Therefore 83% are positive. Lowe's Companies Inc. had 73 analyst reports since August 19, 2015 according to SRatingsIntel.

More notable recent Norfolk Southern Corporation (NYSE:NSC) news were published by: Nasdaq.com which released: "Zacks Industry Outlook Highlights: Union Pacific, Norfolk Southern, Kansas ..." on December 05, 2017, also Nasdaq.com with their article: "Zacks Industry Outlook Highlights: Norfolk Southern, CSX, Kansas City Southern ..." published on December 08, 2017, Livetradingnews.com published: "Norfolk Southern Corp (NYSE:NSC) Technicals Take Profits" on December 01, 2017. The company was maintained on Monday, July 18 by Deutsche Bank. Zacks Investment Research raised Norfolk Souther Corporation from a "hold" rating to a "buy" rating and set a $132.00 price target on the stock in a report on Wednesday, May 3rd. The company's Market capitalization is $5.42B with the total Outstanding Shares of 199.58M. On Wednesday, August 10 the stock rating was maintained by Jefferies with "Buy". On Friday, June 3 the stock rating was reinitiated by Morgan Stanley with "Underweight". (NYSE:TRV) rating on Friday, October 20. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued. Credit Agricole has "Outperform" rating and $78.0 target.

Investors sentiment increased to 2.76 in 2017 Q2. Narrowing in a bit closer, the 5 month price index is 0.68627, the 3 month is 0.82353, and the 1 month is now 1.03704. Another trade for 24,407 shares valued at $2.93M was made by Squires James A on Tuesday, August 15. FMR LLC increased its position in shares of Norfolk Souther Corporation by 41.7% in the fourth quarter. Emerald Mutual Fund Advisers stated it has 580,463 shares. 740,000 were reported by Gabelli Funds Ltd Llc.

For the past 5 years, Salesforce.com, inc.'s EPS growth has been almost 69.5%. California State Teachers Retirement Systems reported 33,934 shares. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.73. Pinebridge Investments Ltd Partnership invested in 0.05% or 81,161 shares. Perkins Coie holds 435 shares or 0.03% of its portfolio. Mitsubishi Ufj Trust owns 142,708 shares. Honeywell Inc owns 0.91% invested in Affiliated Managers Group, Inc. Primecap Co Ca accumulated 275,000 shares. Affiliated Managers Group, Inc.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.

Other reports by Click Lancashire

Discuss This Article

FOLLOW OUR NEWSPAPER