Chemistry Wealth Management LLC Boosts Stake in Norfolk Southern Co. (NYSE:NSC)

Chemistry Wealth Management LLC lifted its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,608 shares of the railroad operator’s stock after purchasing an additional 57 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Norfolk Southern were worth $1,081,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its stake in shares of Norfolk Southern by 2.1% in the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock valued at $2,318,716,000 after buying an additional 196,249 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Norfolk Southern by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock valued at $1,133,828,000 after buying an additional 62,186 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Norfolk Southern by 2.7% in the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock valued at $967,340,000 after buying an additional 103,281 shares in the last quarter. Mizuho Securities USA LLC boosted its position in Norfolk Southern by 18,831.2% during the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after purchasing an additional 3,280,579 shares in the last quarter. Finally, FMR LLC boosted its position in Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after purchasing an additional 881,415 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research analyst reports. Loop Capital boosted their target price on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Stephens reiterated an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday, October 23rd. TD Cowen boosted their target price on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company decreased their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $245.39 on Friday. The firm has a market capitalization of $55.52 billion, a P/E ratio of 23.04, a PEG ratio of 2.11 and a beta of 1.34. The stock has a fifty day moving average price of $251.60 and a 200 day moving average price of $246.19. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. 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) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.65 earnings per share. Equities research analysts anticipate that Norfolk Southern Co. will post 11.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 350 shares of the company’s 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 of the company’s stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Norfolk Southern 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.