HB Wealth Management LLC Buys 1,486 Shares of Norfolk Southern Co. (NYSE:NSC)

HB Wealth Management LLC raised its stake in Norfolk Southern Co. (NYSE:NSC) by 6.8% in the fourth quarter, Holdings Channel reports. The firm owned 23,405 shares of the railroad operator’s stock after acquiring an additional 1,486 shares during the quarter. HB Wealth Management LLC’s holdings in Norfolk Southern were worth $5,493,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Norfolk Southern by 2.1% during the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after buying an additional 196,249 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Norfolk Southern by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after purchasing an additional 62,186 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of Norfolk Southern by 2.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock worth $967,340,000 after purchasing an additional 103,281 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after purchasing an additional 3,280,579 shares during the last quarter. Finally, FMR LLC grew its holdings in Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after purchasing an additional 881,415 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Benchmark raised their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Barclays raised their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI decreased their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus increased their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy bought 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Down 0.7 %

NSC opened at $245.39 on Friday. The stock has a market capitalization of $55.52 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 2.11 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a 50-day simple moving average of $251.08 and a 200 day simple moving average of $246.41.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 EPS. Analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

About Norfolk Southern

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.