Norfolk Southern Co. (NYSE:NSC) Stock Holdings Trimmed by Fifth Third Bancorp

Fifth Third Bancorp lessened its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 117,024 shares of the railroad operator’s stock after selling 2,256 shares during the quarter. Fifth Third Bancorp’s holdings in Norfolk Southern were worth $27,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake 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 purchasing an additional 196,249 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Norfolk Southern by 1.4% in 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 buying an additional 62,186 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Norfolk Southern by 2.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock valued at $967,340,000 after buying an additional 103,281 shares during the period. Mizuho Securities USA LLC grew its position in shares of Norfolk Southern by 18,831.2% during 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 buying an additional 3,280,579 shares during the last quarter. Finally, FMR LLC raised its stake 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 acquiring an additional 881,415 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America upped their price objective on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen raised their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Finally, UBS Group increased their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Price Performance

NSC opened at $254.91 on Friday. The stock has a fifty day moving average price of $249.61 and a 200 day moving average price of $247.68. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The stock has a market cap of $57.67 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.29 and a beta of 1.34.

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.