Carroll Financial Associates Inc. trimmed its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,029 shares of the railroad operator’s stock after selling 101 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Norfolk Southern were worth $913,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc boosted its holdings in Norfolk Southern by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 21,159,132 shares of the railroad operator’s stock valued at $3,819,223,000 after acquiring an additional 336,725 shares during the period. FMR LLC raised its position in Norfolk Southern by 14.8% in the 3rd quarter. FMR LLC now owns 8,080,231 shares of the railroad operator’s stock valued at $1,458,480,000 after purchasing an additional 1,043,444 shares in the last quarter. Capital International Investors raised its position in Norfolk Southern by 47.1% in the 3rd quarter. Capital International Investors now owns 7,020,157 shares of the railroad operator’s stock valued at $1,267,138,000 after purchasing an additional 2,249,296 shares in the last quarter. Legal & General Group Plc raised its position in Norfolk Southern by 0.9% in the 3rd quarter. Legal & General Group Plc now owns 1,553,179 shares of the railroad operator’s stock valued at $280,349,000 after purchasing an additional 13,737 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in Norfolk Southern by 21.3% in the 3rd quarter. Artemis Investment Management LLP now owns 1,462,459 shares of the railroad operator’s stock valued at $263,981,000 after purchasing an additional 256,367 shares in the last quarter. Institutional investors own 72.95% of the company’s stock.
A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Norfolk Southern from $113.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, October 29th. Zacks Investment Research lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Thursday, November 15th. Loop Capital set a $188.00 price target on Norfolk Southern and gave the company a “buy” rating in a research report on Monday, November 26th. Atlantic Securities assumed coverage on Norfolk Southern in a research report on Tuesday. They issued a “neutral” rating on the stock. Finally, Stifel Nicolaus raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $176.42.
Shares of NYSE NSC opened at $163.58 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 0.69. Norfolk Southern Corp. has a fifty-two week low of $127.79 and a fifty-two week high of $186.91. The stock has a market cap of $43.31 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.30 and a beta of 1.33.
Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.08. Norfolk Southern had a return on equity of 15.12% and a net margin of 52.82%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the company earned $1.75 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts forecast that Norfolk Southern Corp. will post 9.24 EPS for the current year.
In related news, COO Michael Joseph Wheeler sold 801 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $172.55, for a total transaction of $138,212.55. Following the transaction, the chief operating officer now owns 9,406 shares in the company, valued at approximately $1,623,005.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by company insiders.
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Norfolk Southern Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.
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