Norfolk Southern Co. (NYSE:NSC) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC reduced its stake in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,874 shares of the railroad operator’s stock after selling 120 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Norfolk Southern were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after acquiring an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after purchasing an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Norfolk Southern by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after buying an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after buying an additional 889,925 shares in the last quarter. Finally, Grandview Asset Management LLC acquired a new position in shares of Norfolk Southern during the 4th quarter worth $918,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 2.7 %

NSC stock opened at $251.96 on Wednesday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a market cap of $57.00 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 2.23 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $250.56 and a 200-day simple moving average of $247.04.

Norfolk Southern (NYSE:NSCGet Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $2.65 EPS. On average, equities research analysts expect that Norfolk Southern Co. will post 11.78 EPS for the current year.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy acquired 350 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NSC. Loop Capital raised their target price on shares of Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI cut their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Stephens reissued an “equal weight” rating and issued a $263.00 price target on shares of Norfolk Southern in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.68.

Read Our Latest Report on NSC

Norfolk Southern Company Profile

(Free Report)

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 agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

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

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