Norfolk Southern Corp. (NSC) Shares Sold by Boston Advisors LLC

Boston Advisors LLC trimmed its holdings in Norfolk Southern Corp. (NYSE:NSC) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 63,361 shares of the railroad operator’s stock after selling 2,317 shares during the quarter. Boston Advisors LLC’s holdings in Norfolk Southern were worth $9,475,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. United Bank grew its holdings in Norfolk Southern by 3.1% in the 2nd quarter. United Bank now owns 9,940 shares of the railroad operator’s stock valued at $1,500,000 after buying an additional 295 shares in the last quarter. FMR LLC boosted its position in shares of Norfolk Southern by 8.6% during the 2nd quarter. FMR LLC now owns 7,036,787 shares of the railroad operator’s stock valued at $1,061,640,000 after purchasing an additional 555,871 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Norfolk Southern by 0.5% during the 2nd quarter. Voya Investment Management LLC now owns 97,925 shares of the railroad operator’s stock valued at $14,774,000 after purchasing an additional 522 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Norfolk Southern by 17.1% during the 2nd quarter. Macquarie Group Ltd. now owns 26,220 shares of the railroad operator’s stock valued at $3,957,000 after purchasing an additional 3,820 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Norfolk Southern by 129.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,701 shares of the railroad operator’s stock valued at $709,000 after purchasing an additional 2,648 shares in the last quarter. 73.31% of the stock is owned by institutional investors and hedge funds.

Shares of Norfolk Southern stock traded down $0.06 during trading on Wednesday, hitting $162.43. 60,747 shares of the company were exchanged, compared to its average volume of 1,957,206. The firm has a market capitalization of $44.59 billion, a P/E ratio of 24.60, a PEG ratio of 1.34 and a beta of 1.33. Norfolk Southern Corp. has a 1-year low of $127.79 and a 1-year high of $186.91. 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 (NYSE:NSC) last posted its earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.08. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. Norfolk Southern had a return on equity of 15.12% and a net margin of 52.82%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 EPS. Research analysts anticipate that Norfolk Southern Corp. will post 9.24 EPS for the current fiscal year.

In other news, COO Michael Joseph Wheeler sold 801 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $172.55, for a total transaction of $138,212.55. Following the completion of the transaction, the chief operating officer now directly owns 9,406 shares in the company, valued at approximately $1,623,005.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by insiders.

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of 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 cut Norfolk Southern from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Loop Capital set a $188.00 price objective on Norfolk Southern and gave the stock a “buy” rating in a report on Monday, November 26th. Atlantic Securities initiated coverage on Norfolk Southern in a report on Tuesday, January 8th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $176.42.

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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.

Further Reading: Dividend Aristocrat Index

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

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