ZWJ Investment Counsel Inc. Increases Stock Position in Norfolk Southern Co. (NYSE:NSC)

ZWJ Investment Counsel Inc. grew its holdings in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,014 shares of the railroad operator’s stock after buying an additional 100 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Norfolk Southern were worth $1,881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after purchasing an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 worth $3,556,000 after buying an additional 2,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in 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 valued at $132,565,000 after buying an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in 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 buying an additional 889,925 shares during the last quarter. Finally, Grandview Asset Management LLC bought a new stake in Norfolk Southern in the fourth quarter worth $918,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NSC opened at $245.39 on Tuesday. The company’s 50 day moving average is $251.08 and its 200 day moving average is $246.84. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a market cap of $55.52 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 2.23 and a beta of 1.34. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSCGet Free Report) last issued 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 for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. On average, equities research analysts predict that Norfolk Southern Co. will post 11.78 EPS for the current year.

Wall Street Analyst Weigh In

NSC has been the subject of several analyst reports. Susquehanna reduced their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. TD Cowen raised 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. Royal Bank of Canada upped their target price 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. Evercore ISI reduced their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Barclays upped their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Check Out Our Latest Stock Report on NSC

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 350 shares of the firm’s 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 purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Norfolk Southern Profile

(Free Report)

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.

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

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