Pennsylvania Trust Co reduced its holdings in Norfolk Southern Corp. (NYSE:NSC) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,213 shares of the railroad operator’s stock after selling 1,000 shares during the period. Pennsylvania Trust Co’s holdings in Norfolk Southern were worth $2,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NSC. The Manufacturers Life Insurance Company increased its position in Norfolk Southern by 20.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 385,575 shares of the railroad operator’s stock worth $52,354,000 after buying an additional 65,124 shares during the period. Ostrum Asset Management acquired a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $167,000. Natixis grew its holdings in shares of Norfolk Southern by 14.6% during the 1st quarter. Natixis now owns 22,886 shares of the railroad operator’s stock worth $3,092,000 after purchasing an additional 2,918 shares in the last quarter. Element Capital Management LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $363,000. Finally, LPL Financial LLC grew its holdings in shares of Norfolk Southern by 13.9% during the 1st quarter. LPL Financial LLC now owns 44,468 shares of the railroad operator’s stock worth $6,038,000 after purchasing an additional 5,416 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Shares of NSC stock opened at $171.60 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $50.55 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.65 and a beta of 1.39. Norfolk Southern Corp. has a one year low of $125.59 and a one year high of $186.91.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, July 25th. The railroad operator reported $2.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.19. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.87 billion. Norfolk Southern had a return on equity of 14.53% and a net margin of 52.36%. Norfolk Southern’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 EPS. Research analysts expect that Norfolk Southern Corp. will post 9.14 earnings per share for the current fiscal year.

Several analysts have recently weighed in on NSC shares. Citigroup raised Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 price objective on the stock in a report on Monday, June 25th. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, June 26th. Scotiabank reissued a “buy” rating and set a $168.00 price objective on shares of Norfolk Southern in a report on Wednesday, July 4th. Royal Bank of Canada reissued a “hold” rating and set a $158.00 price objective on shares of Norfolk Southern in a report on Friday, July 13th. Finally, Cowen reissued a “buy” rating and set a $188.00 price objective on shares of Norfolk Southern in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. Norfolk Southern currently has a consensus rating of “Hold” and a consensus price target of $171.20.

In related news, Chairman James A. Squires sold 34,077 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $171.73, for a total value of $5,852,043.21. Following the sale, the chairman now owns 63,958 shares of the company’s stock, valued at approximately $10,983,507.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Cynthia C. Earhart sold 2,370 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total value of $414,963.30. Following the completion of the sale, the vice president now directly owns 2,370 shares in the company, valued at approximately $414,963.30. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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