Fifth Third Bancorp Reduces Position in Norfolk Southern Co. (NYSE:NSC)

Fifth Third Bancorp reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,024 shares of the railroad operator’s stock after selling 2,256 shares during the quarter. Fifth Third Bancorp owned about 0.05% of Norfolk Southern worth $27,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its holdings in shares of 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 buying an additional 3,280,579 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in 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 worth $222,025,000 after acquiring an additional 889,925 shares during the last quarter. FMR LLC grew its stake 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. Hotchkis & Wiley Capital Management LLC acquired a new position in Norfolk Southern in the 3rd quarter valued at $207,830,000. Finally, Holocene Advisors LP acquired a new stake in shares of Norfolk Southern during the third quarter worth $122,798,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NSC. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group raised their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Stephens reiterated an “equal weight” rating and issued a $263.00 price target on shares of Norfolk Southern in a report on Wednesday, October 23rd. Finally, Bank of America upped their price objective on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $275.68.

Norfolk Southern Price Performance

Shares of NSC stock opened at $254.91 on Friday. The firm has a fifty day simple moving average of $249.61 and a 200-day simple moving average of $247.68. The company has a market capitalization of $57.67 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month 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.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate 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.