Boenning & Scattergood Inc. Sells 2,902 Shares of Norfolk Southern Corp. (NYSE:NSC)

Boenning & Scattergood Inc. trimmed its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 33.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,887 shares of the railroad operator’s stock after selling 2,902 shares during the quarter. Boenning & Scattergood Inc.’s holdings in Norfolk Southern were worth $1,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Norfolk Southern by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 19,837,509 shares of the railroad operator’s stock worth $3,954,210,000 after purchasing an additional 88,933 shares during the period. FMR LLC lifted its position in shares of Norfolk Southern by 27.4% during the 1st quarter. FMR LLC now owns 9,875,360 shares of the railroad operator’s stock valued at $1,845,606,000 after acquiring an additional 2,123,713 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Norfolk Southern by 4,303.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,491,367 shares of the railroad operator’s stock valued at $297,275,000 after acquiring an additional 1,457,500 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Norfolk Southern by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,162,902 shares of the railroad operator’s stock valued at $231,802,000 after acquiring an additional 22,086 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in shares of Norfolk Southern by 1.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,081,565 shares of the railroad operator’s stock valued at $215,588,000 after acquiring an additional 16,314 shares during the period. 72.28% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Jennifer F. Scanlon bought 525 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The stock was purchased at an average price of $191.52 per share, for a total transaction of $100,548.00. Following the purchase, the director now directly owns 525 shares in the company, valued at approximately $100,548. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Shares of NSC stock opened at $178.54 on Tuesday. The firm has a market capitalization of $47.02 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.62 and a beta of 1.36. The firm has a fifty day simple moving average of $176.53 and a two-hundred day simple moving average of $189.92. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.72. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 EPS for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.07). The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.95 billion. Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.50 EPS. On average, equities analysts predict that Norfolk Southern Corp. will post 10.39 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on NSC shares. UBS Group dropped their target price on shares of Norfolk Southern from $230.00 to $216.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Bank of America dropped their target price on shares of Norfolk Southern from $212.00 to $198.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Morgan Stanley set a $130.00 target price on shares of Norfolk Southern and gave the company a “sell” rating in a research report on Monday, July 8th. ValuEngine downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Zacks Investment Research upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating and set a $182.00 target price on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Norfolk Southern currently has a consensus rating of “Hold” and an average target price of $203.78.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

Further Reading: Average Daily Trade Volume – ADTV

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

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