IFM Investors Pty Ltd increased its stake in Norfolk Southern Co. (NYSE:NSC) by 16.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,369 shares of the railroad operator’s stock after acquiring an additional 3,524 shares during the quarter. IFM Investors Pty Ltd’s holdings in Norfolk Southern were worth $5,790,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Lavaca Capital LLC acquired a new position in shares of Norfolk Southern in the 4th quarter worth $1,068,000. Contravisory Investment Management Inc. acquired a new stake in shares of Norfolk Southern in the fourth quarter worth $71,000. Norway Savings Bank boosted its position in shares of Norfolk Southern by 416.7% in the fourth quarter. Norway Savings Bank now owns 155 shares of the railroad operator’s stock worth $37,000 after buying an additional 125 shares during the period. KMG Fiduciary Partners LLC boosted its position in shares of Norfolk Southern by 144.0% in the fourth quarter. KMG Fiduciary Partners LLC now owns 4,041 shares of the railroad operator’s stock worth $953,000 after buying an additional 2,385 shares during the period. Finally, Cox Capital Mgt LLC boosted its position in shares of Norfolk Southern by 2.4% in the fourth quarter. Cox Capital Mgt LLC now owns 8,521 shares of the railroad operator’s stock worth $2,025,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 62.32% of the company’s stock.
In other news, EVP Ann A. Adams sold 1,370 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $213.86, for a total transaction of $292,988.20. Following the completion of the sale, the executive vice president now directly owns 8,011 shares of the company’s stock, valued at $1,713,232.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.
Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, October 28th. The railroad operator reported $2.51 EPS for the quarter, topping the consensus estimate of $2.36 by $0.15. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.53 billion. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. On average, equities research analysts expect that Norfolk Southern Co. will post 9.12 earnings per share for the current fiscal year.
NSC has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on Norfolk Southern from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Thursday, October 29th. Barclays raised Norfolk Southern from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $202.00 to $230.00 in a research report on Friday, October 16th. Bank of America raised their target price on Norfolk Southern from $207.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 30th. Robert W. Baird raised Norfolk Southern from a “neutral” rating to an “outperform” rating and set a $286.00 price target for the company in a research report on Tuesday. Finally, Benchmark raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Friday, September 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Norfolk Southern currently has an average rating of “Buy” and an average price target of $222.92.
Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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