The Nippon Life Insurance Co. Has $1,382,000 Position in Norfolk Southern Corp. (NSC)

The Nippon Life Insurance Co. Has $1,382,000 Position in Norfolk Southern Corp. (NSC)

Nippon Life Insurance Co. reduced its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,240 shares of the railroad operator’s stock after selling 935 shares during the period. Nippon Life Insurance Co.’s holdings in Norfolk Southern Corp. were worth $1,382,000 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. Capital International Investors increased its position in shares of Norfolk Southern Corp. by 5.6% in the second quarter. Capital International Investors now owns 5,850,200 shares of the railroad operator’s stock worth $498,028,000 after buying an additional 309,700 shares during the last quarter. FMR LLC raised its stake in Norfolk Southern Corp. by 69.8% in the second quarter. FMR LLC now owns 3,901,583 shares of the railroad operator’s stock worth $332,142,000 after buying an additional 1,603,911 shares during the period. BlackRock Fund Advisors raised its stake in Norfolk Southern Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 3,849,457 shares of the railroad operator’s stock worth $327,704,000 after buying an additional 68,904 shares during the period. Bank of New York Mellon Corp raised its stake in Norfolk Southern Corp. by 35.5% in the second quarter. Bank of New York Mellon Corp now owns 3,628,950 shares of the railroad operator’s stock worth $308,932,000 after buying an additional 951,665 shares during the period. Finally, BlackRock Group LTD raised its stake in Norfolk Southern Corp. by 2.8% in the second quarter. BlackRock Group LTD now owns 2,456,117 shares of the railroad operator’s stock worth $209,090,000 after buying an additional 67,916 shares during the period. 67.84% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Corp. (NYSE:NSC) traded up 4.05% on Thursday, reaching $114.42. 5,853,193 shares of the company’s stock were exchanged. Norfolk Southern Corp. has a 1-year low of $64.51 and a 1-year high of $116.00. The company has a market capitalization of $33.40 billion, a P/E ratio of 21.19 and a beta of 1.19. The firm has a 50-day moving average price of $108.81 and a 200-day moving average price of $97.18.

Norfolk Southern Corp. (NYSE:NSC) last announced its quarterly earnings data on Wednesday, October 26th. The railroad operator reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.10. Norfolk Southern Corp. had a net margin of 16.27% and a return on equity of 13.15%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the firm posted $1.49 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. Equities research analysts expect that Norfolk Southern Corp. will post $5.59 earnings per share for the current year.

NSC has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $96.00 price objective on shares of Norfolk Southern Corp. in a research report on Wednesday, October 26th. Zacks Investment Research lowered shares of Norfolk Southern Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Bank of America Corp. raised shares of Norfolk Southern Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $97.00 to $110.00 in a research report on Tuesday, October 11th. Vertical Research initiated coverage on shares of Norfolk Southern Corp. in a research report on Tuesday, October 11th. They issued a “sell” rating on the stock. Finally, Seaport Global Securities initiated coverage on shares of Norfolk Southern Corp. in a research report on Friday, October 28th. They issued a “buy” rating and a $101.00 price objective on the stock. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $93.66.

In other news, EVP Marta R. Stewart sold 3,987 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $100.49, for a total value of $400,653.63. Following the completion of the transaction, the executive vice president now owns 11,744 shares in the company, valued at approximately $1,180,154.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas E. Hurlbut sold 469 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $103.77, for a total transaction of $48,668.13. Following the completion of the transaction, the vice president now owns 7,041 shares of the company’s stock, valued at approximately $730,644.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,896 shares of company stock worth $4,319,308. Insiders own 0.66% of the company’s stock.

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corp. (NYSE:NSC).

Related posts

Leave a Comment