Curbstone Financial Management Corp Trims Holdings in Norfolk Southern Co. (NYSE:NSC)

Curbstone Financial Management Corp reduced its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 2.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,432 shares of the railroad operator’s stock after selling 50 shares during the period. Curbstone Financial Management Corp’s holdings in Norfolk Southern were worth $571,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NSC. State Street Corp lifted its holdings in shares of Norfolk Southern by 2.1% during the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock valued at $2,318,716,000 after purchasing an additional 196,249 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Norfolk Southern by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after acquiring an additional 62,186 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Norfolk Southern by 2.7% in the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock worth $967,340,000 after acquiring an additional 103,281 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Norfolk Southern by 18,831.2% during the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after acquiring an additional 3,280,579 shares in the last quarter. Finally, FMR LLC raised its position in shares of Norfolk Southern by 48.4% in the 3rd 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 last quarter. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stephens reissued an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Barclays raised their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI cut their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen increased their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, UBS Group boosted their target price on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and an average price target of $275.68.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 350 shares of the stock in a transaction on Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 2.0 %

Shares of NSC stock opened at $259.70 on Tuesday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm has a fifty day moving average price of $249.61 and a 200-day moving average price of $248.15. The company has a market cap of $58.76 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.29 and a beta of 1.34. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.

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.