Financial Management Professionals Inc. bought a new stake in shares of Norfolk Southern Corp. (NYSE:NSC) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 517 shares of the railroad operator’s stock, valued at approximately $93,000.
A number of other large investors have also made changes to their positions in NSC. Krane Funds Advisors LLC acquired a new position in shares of Norfolk Southern in the second quarter valued at about $26,000. Weaver Consulting Group acquired a new position in shares of Norfolk Southern in the first quarter valued at about $30,000. Prestige Wealth Management Group LLC acquired a new position in shares of Norfolk Southern in the second quarter valued at about $35,000. AGF Investments LLC increased its holdings in shares of Norfolk Southern by 173.5% in the second quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Finally, Coastal Capital Group Inc. acquired a new position in shares of Norfolk Southern in the second quarter valued at about $40,000. 72.23% of the stock is currently owned by institutional investors.
In related news, Director Jennifer F. Scanlon bought 525 shares of the stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $191.52 per share, for a total transaction of $100,548.00. Following the completion of the purchase, the director now directly owns 525 shares of the company’s stock, valued at $100,548. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.
Shares of NSC traded up $6.48 during mid-day trading on Friday, reaching $178.50. The company had a trading volume of 158,882 shares, compared to its average volume of 1,626,773. Norfolk Southern Corp. has a 52-week low of $138.65 and a 52-week high of $211.46. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $43.92 billion, a P/E ratio of 18.77, a PEG ratio of 1.42 and a beta of 1.36. The stock has a 50 day moving average of $176.02 and a two-hundred day moving average of $189.94.
Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, July 24th. The railroad operator reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.07). Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that Norfolk Southern Corp. will post 10.39 earnings per share for the current year.
A number of brokerages have recently weighed in on NSC. Goldman Sachs Group began coverage on Norfolk Southern in a report on Wednesday, July 10th. They issued a “buy” rating and a $237.00 price objective on the stock. Morgan Stanley set a $130.00 price objective on Norfolk Southern and gave the company a “sell” rating in a report on Monday, July 8th. Cascend Securities lowered Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group cut their price objective on Norfolk Southern from $230.00 to $216.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Bank of America cut their price objective on Norfolk Southern from $212.00 to $198.00 and set a “buy” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has an average 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.
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