Daymark Wealth Partners LLC Reduces Stake in Norfolk Southern Co. (NYSE:NSC)

Daymark Wealth Partners LLC trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 9,253 shares of the railroad operator’s stock after selling 105 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Norfolk Southern were worth $2,172,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after acquiring an additional 8,844 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after purchasing an additional 2,453 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after purchasing an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares during the last quarter. Finally, Grandview Asset Management LLC purchased a new stake in Norfolk Southern in the 4th quarter valued at approximately $918,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NSC shares. Stifel Nicolaus boosted their price target on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. UBS Group upped their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America lifted their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. TD Cowen upped their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Susquehanna lowered their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Stock Down 0.0 %

Shares of NYSE:NSC opened at $251.74 on Thursday. The stock has a 50-day simple moving average of $250.25 and a 200-day simple moving average of $247.30. The stock has a market capitalization of $56.95 billion, a P/E ratio of 23.64, a PEG ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.65 earnings per share. Equities analysts forecast that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 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.