Anchor Capital Advisors LLC Decreases Position in Norfolk Southern Corporation $NSC

Anchor Capital Advisors LLC trimmed its position in Norfolk Southern Corporation (NYSE:NSC) by 96.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,605 shares of the railroad operator’s stock after selling 125,730 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Norfolk Southern were worth $1,383,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after buying an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $327,000. Park Avenue Securities LLC purchased a new position in shares of Norfolk Southern in the second quarter worth about $1,673,000. Finally, U.S. Capital Wealth Advisors LLC boosted its position in Norfolk Southern by 7.3% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 2,005 shares of the railroad operator’s stock worth $513,000 after acquiring an additional 137 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 3.1%

Shares of NSC opened at $289.15 on Thursday. The company’s 50-day moving average price is $289.58 and its 200 day moving average price is $284.54. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The firm has a market cap of $64.88 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 4.91 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $3.25 EPS. On average, sell-side analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NSC shares. Susquehanna increased their price objective on shares of Norfolk Southern from $288.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. Citigroup boosted their price objective on Norfolk Southern from $307.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Sanford C. Bernstein cut their target price on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Finally, Wolfe Research lifted their price target on Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $303.52.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy acquired 1,650 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of $282.97 per share, with a total value of $466,900.50. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. This trade represents a 15.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Jr. Clyburn bought 204 shares of the business’s stock in a transaction on Friday, December 5th. The stock was purchased at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the transaction, the director owned 405 shares of the company’s stock, valued at $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 4,454 shares of company stock worth $1,259,874. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.