Daymark Wealth Partners LLC Cuts Holdings in Norfolk Southern Co. (NYSE:NSC)

Daymark Wealth Partners LLC lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,253 shares of the railroad operator’s stock after selling 105 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Norfolk Southern were worth $2,172,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in Norfolk Southern in the third quarter worth approximately $25,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth $30,000. HWG Holdings LP acquired a new position in shares of Norfolk Southern during the second quarter worth $31,000. Coastline Trust Co purchased a new position in Norfolk Southern in the third quarter valued at $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in Norfolk Southern in the third quarter valued at $33,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NSC has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stephens reissued an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a report on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price objective on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One equities research 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Insiders Place Their Bets

In related news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the transaction, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Stock Performance

Shares of NSC opened at $251.74 on Thursday. The stock has a market capitalization of $56.95 billion, a P/E ratio of 23.64, a P/E/G ratio of 2.29 and a beta of 1.34. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company’s fifty day moving average is $250.25 and its two-hundred day moving average is $247.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company posted $2.65 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Norfolk Southern Co. will post 11.78 earnings per share for the current 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.