Pennsylvania Trust Co Sells 1,000 Shares of Norfolk Southern Corp. (NSC)

Pennsylvania Trust Co lowered its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 6.2% in the third quarter, Holdings Channel reports. The fund owned 15,213 shares of the railroad operator’s stock after selling 1,000 shares during the period. Pennsylvania Trust Co’s holdings in Norfolk Southern were worth $2,746,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NSC. The Manufacturers Life Insurance Company raised its position in shares of Norfolk Southern by 20.3% during the first quarter. The Manufacturers Life Insurance Company now owns 385,575 shares of the railroad operator’s stock worth $52,354,000 after acquiring an additional 65,124 shares during the last quarter. Ostrum Asset Management bought a new stake in shares of Norfolk Southern during the first quarter worth $167,000. Natixis raised its position in shares of Norfolk Southern by 14.6% during the first quarter. Natixis now owns 22,886 shares of the railroad operator’s stock worth $3,092,000 after acquiring an additional 2,918 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Norfolk Southern during the first quarter worth $363,000. Finally, LPL Financial LLC raised its position in shares of Norfolk Southern by 13.9% during the first quarter. LPL Financial LLC now owns 44,468 shares of the railroad operator’s stock worth $6,038,000 after acquiring an additional 5,416 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

In other Norfolk Southern news, Chairman James A. Squires sold 34,077 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $171.73, for a total value of $5,852,043.21. Following the completion of the transaction, the chairman now directly owns 63,958 shares of the company’s stock, valued at $10,983,507.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Cynthia C. Earhart sold 2,370 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total value of $414,963.30. Following the completion of the transaction, the vice president now directly owns 2,370 shares of the company’s stock, valued at $414,963.30. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

NYSE NSC opened at $171.60 on Thursday. Norfolk Southern Corp. has a 12 month low of $125.59 and a 12 month high of $186.91. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $50.55 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.65 and a beta of 1.39.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.19. Norfolk Southern had a return on equity of 14.53% and a net margin of 52.36%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the firm earned $1.71 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Norfolk Southern Corp. will post 9.14 EPS for the current year.

NSC has been the subject of a number of recent research reports. Citigroup upgraded Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 target price for the company in a research report on Monday, June 25th. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, June 26th. Scotiabank reiterated a “buy” rating and issued a $168.00 price objective on shares of Norfolk Southern in a report on Wednesday, July 4th. Royal Bank of Canada reiterated a “hold” rating and issued a $158.00 price objective on shares of Norfolk Southern in a report on Friday, July 13th. Finally, Cowen reiterated a “buy” rating and issued a $188.00 price objective on shares of Norfolk Southern in a report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company. Norfolk Southern has an average rating of “Hold” and an average target price of $171.20.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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