HB Wealth Management LLC Raises Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

HB Wealth Management LLC boosted its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,405 shares of the railroad operator's stock after acquiring an additional 1,486 shares during the quarter. HB Wealth Management LLC's holdings in Norfolk Southern were worth $5,493,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock worth $63,417,000 after purchasing an additional 8,844 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator's stock worth $3,556,000 after acquiring an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Norfolk Southern by 0.7% during 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 purchasing an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC raised its stake 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 worth $222,025,000 after buying an additional 889,925 shares during the period. Finally, Grandview Asset Management LLC bought a new position in shares of Norfolk Southern during the 4th quarter valued at approximately $918,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.7 %

Shares of NYSE NSC traded down $1.72 during trading hours on Friday, reaching $245.39. The stock had a trading volume of 1,024,019 shares, compared to its average volume of 970,692. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The firm has a market cap of $55.52 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 2.11 and a beta of 1.34. The business's fifty day moving average price is $251.08 and its two-hundred day moving average price is $246.63. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NSC shares. TD Cowen lifted their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Stephens reiterated an "equal weight" rating and issued a $263.00 price target on shares of Norfolk Southern in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Citigroup boosted their target price on Norfolk Southern from $302.00 to $316.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, UBS Group raised their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $275.68.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

Norfolk Southern Company 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 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.