Norfolk Southern Corp. (NYSE:NSC) Shares Bought by Baxter Bros Inc.

Baxter Bros Inc. raised its holdings in Norfolk Southern Corp. (NYSE:NSC) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,383 shares of the railroad operator’s stock after acquiring an additional 104 shares during the period. Baxter Bros Inc.’s holdings in Norfolk Southern were worth $4,381,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Norfolk Southern by 0.5% during 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 last quarter. Nuveen Asset Management LLC boosted its stake in shares of Norfolk Southern by 4,303.6% in the second quarter. Nuveen Asset Management LLC now owns 1,491,367 shares of the railroad operator’s stock valued at $297,275,000 after purchasing an additional 1,457,500 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Norfolk Southern by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,162,902 shares of the railroad operator’s stock valued at $231,802,000 after purchasing an additional 22,086 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Norfolk Southern by 1.5% in the second quarter. UBS Asset Management Americas Inc. now owns 1,081,565 shares of the railroad operator’s stock valued at $215,588,000 after purchasing an additional 16,314 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Norfolk Southern by 3.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 913,984 shares of the railroad operator’s stock valued at $182,184,000 after purchasing an additional 31,581 shares during the period. Institutional investors own 72.29% of the company’s stock.

Shares of Norfolk Southern stock traded up $3.51 during trading hours on Monday, reaching $185.42. The company’s stock had a trading volume of 52,717 shares, compared to its average volume of 1,674,077. The company’s 50 day simple moving average is $177.39 and its 200 day simple moving average is $189.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 0.78. Norfolk Southern Corp. has a one year low of $138.65 and a one year high of $211.46. The stock has a market cap of $48.39 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.36.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.07). Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the business posted $2.50 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts predict that Norfolk Southern Corp. will post 10.35 earnings per share for the current fiscal year.

In other Norfolk Southern news, Director Jennifer F. Scanlon purchased 525 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the transaction, the director now owns 525 shares in the company, valued at approximately $100,548. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating and set a $182.00 target price for the company in a research note on Friday, October 11th. TD Securities reduced their price objective on shares of Norfolk Southern from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Bank of America reduced their price objective on shares of Norfolk Southern from $212.00 to $198.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Cascend Securities downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, UBS Group reduced their price objective on shares of Norfolk Southern from $230.00 to $216.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $203.78.

Norfolk Southern 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: Death Cross

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

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