Salvus Wealth Management LLC Sells 441 Shares of Norfolk Southern Co. (NYSE:NSC)

Salvus Wealth Management LLC lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 9.4% during the fourth quarter, Holdings Channel reports. The fund owned 4,261 shares of the railroad operator’s stock after selling 441 shares during the period. Salvus Wealth Management LLC’s holdings in Norfolk Southern were worth $1,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSC. Principal Financial Group Inc. grew its stake in shares of Norfolk Southern by 3.6% during the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after purchasing an additional 8,844 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Norfolk Southern by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Norfolk Southern by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after acquiring an additional 3,621 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Norfolk Southern by 25,181.8% during the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the period. Finally, Seven Eight Capital LP bought a new position in Norfolk Southern in the second quarter valued at about $1,676,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Sameh Fahmy acquired 350 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Stock Up 2.8 %

NSC stock opened at $247.19 on Friday. The business has a 50-day simple moving average of $252.07 and a 200 day simple moving average of $246.19. The company has a market cap of $55.92 billion, a PE ratio of 23.21, a price-to-earnings-growth 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 52 week low of $206.71 and a 52 week high of $277.60.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Sanford C. Bernstein upped their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Evercore ISI lowered their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Stifel Nicolaus upped their price target on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. Finally, Benchmark upped their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Company Profile

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.