Salvus Wealth Management LLC Sells 441 Shares of Norfolk Southern Co. (NYSE:NSC)

Salvus Wealth Management LLC reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,261 shares of the railroad operator’s stock after selling 441 shares during the period. Salvus Wealth Management LLC’s holdings in Norfolk Southern were worth $1,000,000 at the end of the most recent quarter.

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

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NSC. Wells Fargo & Company decreased their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Benchmark upped their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Susquehanna cut their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Trading Up 2.8 %

NSC stock opened at $247.19 on Friday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year 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. The business’s 50 day moving average is $252.07 and its 200-day moving average is $246.19. The firm has a market cap of $55.92 billion, a P/E ratio of 23.21, a P/E/G ratio of 2.11 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 earnings per share. Equities analysts anticipate that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

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.