Norfolk Southern Co. (NYSE:NSC) Shares Sold by Walker Asset Management LLC

Walker Asset Management LLC cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,377 shares of the railroad operator’s stock after selling 143 shares during the quarter. Walker Asset Management LLC’s holdings in Norfolk Southern were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after purchasing an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after buying an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Norfolk Southern by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after acquiring an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the period. Finally, Grandview Asset Management LLC purchased a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $918,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NSC opened at $245.39 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The company has a market cap of $55.52 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.34. The stock has a 50-day moving average of $251.60 and a 200-day moving average of $246.19. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business earned $2.65 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NSC. Bank of America boosted their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Citigroup lifted their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Barclays raised their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, TD Cowen upped their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Norfolk Southern Company 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.