Triangle Securities Wealth Management Has $249,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

Triangle Securities Wealth Management reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 6.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,063 shares of the railroad operator’s stock after selling 70 shares during the period. Triangle Securities Wealth Management’s holdings in Norfolk Southern were worth $249,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the third quarter worth $25,000. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the third quarter worth $30,000. HWG Holdings LP acquired a new position in shares of Norfolk Southern during the second quarter worth $31,000. Coastline Trust Co acquired a new position in shares of Norfolk Southern during the third quarter worth $32,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern during the third quarter worth $33,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on NSC shares. Royal Bank of Canada boosted their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens reissued an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, Bank of America boosted their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Stock Down 0.7 %

Shares of NYSE:NSC opened at $245.39 on Monday. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The firm has a fifty day moving average of $251.08 and a 200 day moving average of $246.63. The firm has a market capitalization of $55.52 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.34. 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 posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. As a group, research analysts anticipate that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

Insider Activity

In related news, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction that occurred 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 transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

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.