Cox Capital Mgt LLC increased its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,069 shares of the railroad operator’s stock after buying an additional 122 shares during the quarter. Cox Capital Mgt LLC’s holdings in Norfolk Southern were worth $1,010,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in NSC. Norges Bank purchased a new stake in Norfolk Southern in the fourth quarter valued at $400,313,000. FMR LLC boosted its holdings in Norfolk Southern by 27.4% in the first quarter. FMR LLC now owns 9,875,360 shares of the railroad operator’s stock valued at $1,845,606,000 after purchasing an additional 2,123,713 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Norfolk Southern by 27.7% in the first quarter. Lazard Asset Management LLC now owns 7,333,967 shares of the railroad operator’s stock valued at $1,370,644,000 after purchasing an additional 1,592,303 shares during the last quarter. Ronna Sue Cohen boosted its holdings in Norfolk Southern by 18,679.2% in the first quarter. Ronna Sue Cohen now owns 491,076 shares of the railroad operator’s stock valued at $491,000 after purchasing an additional 488,461 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Norfolk Southern by 42.1% in the fourth quarter. Deutsche Bank AG now owns 1,577,738 shares of the railroad operator’s stock valued at $235,929,000 after purchasing an additional 467,131 shares during the last quarter. 72.56% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on NSC shares. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Loop Capital upped their price target on shares of Norfolk Southern to $237.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Cascend Securities downgraded shares of Union Pacific from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Argus upped their price objective on shares of Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, TD Securities upped their price objective on shares of TFI International from C$52.00 to C$54.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $204.47.
Shares of NSC traded up $0.37 during mid-day trading on Tuesday, hitting $196.67. 1,731,458 shares of the company were exchanged, compared to its average volume of 1,614,355. Norfolk Southern Corp. has a 1-year low of $138.65 and a 1-year high of $211.46. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The firm’s 50 day simple moving average is $198.70. The stock has a market cap of $51.91 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.54 and a beta of 1.32.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.34. Norfolk Southern had a net margin of 24.10% and a return on equity of 17.80%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Norfolk Southern Corp. will post 10.79 EPS for the current year.
In related news, COO Michael Joseph Wheeler sold 2,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $204.57, for a total transaction of $511,425.00. Following the completion of the transaction, the chief operating officer now owns 12,919 shares in the company, valued at approximately $2,642,839.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman James A. Squires sold 3,024 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total transaction of $619,043.04. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
About Norfolk Southern
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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