Eagle Rock Investment Company LLC Has $4.54 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Eagle Rock Investment Company LLC cut its position in Norfolk Southern Co. (NYSE:NSC - Free Report) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,328 shares of the railroad operator's stock after selling 2,091 shares during the quarter. Eagle Rock Investment Company LLC's holdings in Norfolk Southern were worth $4,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Werlinich Asset Management LLC raised its holdings in shares of Norfolk Southern by 1.9% during the 4th quarter. Werlinich Asset Management LLC now owns 4,084 shares of the railroad operator's stock worth $954,000 after buying an additional 75 shares in the last quarter. Carnegie Investment Counsel raised its stake in Norfolk Southern by 1.7% during the fourth quarter. Carnegie Investment Counsel now owns 8,860 shares of the railroad operator's stock worth $2,079,000 after acquiring an additional 149 shares in the last quarter. Essex Savings Bank lifted its holdings in shares of Norfolk Southern by 1.4% in the fourth quarter. Essex Savings Bank now owns 6,497 shares of the railroad operator's stock worth $1,525,000 after acquiring an additional 87 shares during the last quarter. Founders Grove Wealth Partners LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $1,044,000. Finally, Park Avenue Securities LLC boosted its stake in shares of Norfolk Southern by 57.4% in the 4th quarter. Park Avenue Securities LLC now owns 6,149 shares of the railroad operator's stock valued at $1,443,000 after purchasing an additional 2,242 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NSC shares. JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Bank of America increased their price target on Norfolk Southern from $276.00 to $291.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Benchmark boosted their price objective on Norfolk Southern from $270.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. TD Cowen increased their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein boosted their price target on Norfolk Southern from $285.00 to $286.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has an average rating of "Moderate Buy" and an average target price of $275.68.

Norfolk Southern Trading Down 0.7 %

NYSE NSC traded down $1.72 during mid-day trading on Friday, reaching $245.39. 1,024,019 shares of the stock were exchanged, compared to its average volume of 989,620. The stock has a market cap of $55.52 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.11 and a beta of 1.34. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The stock has a 50 day simple moving average of $251.60 and a 200-day simple moving average of $246.19.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $2.65 EPS. The business's quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts anticipate that Norfolk Southern Co. will post 11.79 EPS for the current year.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 1,000 shares of Norfolk Southern stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company's stock, valued at $2,550,000. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

About Norfolk Southern

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.