TCI Wealth Advisors Inc. trimmed its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 37.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,313 shares of the railroad operator’s stock after selling 1,401 shares during the period. TCI Wealth Advisors Inc.’s holdings in Norfolk Southern were worth $346,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of NSC. Stony Point Wealth Management Inc. boosted its holdings in shares of Norfolk Southern by 5.0% in the 4th quarter. Stony Point Wealth Management Inc. now owns 1,589 shares of the railroad operator’s stock worth $238,000 after acquiring an additional 75 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of Norfolk Southern by 2.0% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 3,825 shares of the railroad operator’s stock worth $572,000 after acquiring an additional 75 shares in the last quarter. BKD Wealth Advisors LLC boosted its holdings in shares of Norfolk Southern by 1.8% in the 4th quarter. BKD Wealth Advisors LLC now owns 4,427 shares of the railroad operator’s stock worth $662,000 after acquiring an additional 77 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Norfolk Southern by 3.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,627 shares of the railroad operator’s stock worth $474,000 after acquiring an additional 83 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its holdings in shares of Norfolk Southern by 31.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 415 shares of the railroad operator’s stock worth $62,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 73.31% of the company’s stock.
NSC stock opened at $169.05 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.75 and a current ratio of 0.86. The firm has a market capitalization of $44.96 billion, a PE ratio of 19.11, a P/E/G ratio of 1.34 and a beta of 1.33. Norfolk Southern Corp. has a twelve month low of $127.79 and a twelve month high of $186.91.
Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.08. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. Norfolk Southern had a return on equity of 15.12% and a net margin of 52.82%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.75 EPS. On average, analysts expect that Norfolk Southern Corp. will post 9.25 earnings per share for the current fiscal year.
In related news, COO Michael Joseph Wheeler sold 801 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $172.55, for a total value of $138,212.55. Following the completion of the sale, 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 filing with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.
Several brokerages have recently commented on NSC. Bank of America boosted their target price on Norfolk Southern from $183.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, October 1st. Morgan Stanley upped their price objective on Norfolk Southern from $112.00 to $116.00 and gave the stock a “sell” rating in a report on Tuesday, October 9th. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Monday, October 8th. Barclays reaffirmed a “hold” rating and set a $190.00 price objective on shares of Norfolk Southern in a report on Wednesday, September 26th. Finally, Edward Jones downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a report on Friday, September 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $176.42.
Norfolk Southern Company 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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