Berkshire Asset Management LLC PA lessened its stake in Norfolk Southern Corp. (NYSE:NSC) by 1.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 125,109 shares of the railroad operator’s stock after selling 1,434 shares during the quarter. Norfolk Southern makes up about 2.0% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 17th biggest holding. Berkshire Asset Management LLC PA’s holdings in Norfolk Southern were worth $23,382,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of NSC. Bruderman Asset Management LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth $26,000. Intercontinental Wealth Advisors LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth $27,000. Moody National Bank Trust Division purchased a new stake in shares of Norfolk Southern during the fourth quarter worth $31,000. Pinnacle Bank purchased a new stake in shares of Norfolk Southern during the fourth quarter worth $33,000. Finally, Arlington Partners LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth $37,000. 74.39% of the stock is owned by institutional investors.
In other Norfolk Southern news, VP Jason Andrew Zampi sold 519 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $181.34, for a total value of $94,115.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Joseph Wheeler sold 4,761 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $180.23, for a total transaction of $858,075.03. Following the completion of the transaction, the chief operating officer now directly owns 19,724 shares in the company, valued at approximately $3,554,856.52. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Shares of NSC opened at $193.22 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.72 and a debt-to-equity ratio of 0.69. Norfolk Southern Corp. has a 12-month low of $133.47 and a 12-month high of $196.57. The stock has a market capitalization of $51.86 billion, a P/E ratio of 20.32, a PEG ratio of 1.67 and a beta of 1.43.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 24th. The railroad operator reported $2.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.27. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the firm posted $1.69 earnings per share. Norfolk Southern’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Norfolk Southern Corp. will post 10.39 EPS for the current year.
A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of Norfolk Southern from a “neutral” rating to a “buy” rating and set a $205.00 target price for the company in a report on Monday, April 1st. Argus upped their price objective on shares of Norfolk Southern to $210.00 and gave the company a “positive” rating in a report on Monday, April 8th. Zacks Investment Research lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Tuesday. Deutsche Bank lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and set a $177.00 price objective for the company. in a report on Friday, January 25th. Finally, Credit Suisse Group upped their price objective on shares of Norfolk Southern from $181.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $190.47.
Norfolk Southern Company 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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