Norfolk Southern Corp. (NYSE:NSC) Stake Lifted by Clarus Wealth Advisors

Clarus Wealth Advisors increased its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 44.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,656 shares of the railroad operator’s stock after buying an additional 1,435 shares during the quarter. Clarus Wealth Advisors’ holdings in Norfolk Southern were worth $836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rational Advisors LLC grew its stake in Norfolk Southern by 755.2% during the 2nd quarter. Rational Advisors LLC now owns 821 shares of the railroad operator’s stock worth $164,000 after buying an additional 725 shares during the last quarter. Hayden Royal LLC grew its stake in shares of Norfolk Southern by 16.3% in the second quarter. Hayden Royal LLC now owns 1,297 shares of the railroad operator’s stock worth $261,000 after purchasing an additional 182 shares in the last quarter. Coastal Investment Advisors Inc. grew its stake in shares of Norfolk Southern by 139.6% in the second quarter. Coastal Investment Advisors Inc. now owns 841 shares of the railroad operator’s stock worth $166,000 after purchasing an additional 490 shares in the last quarter. FTB Advisors Inc. grew its stake in shares of Norfolk Southern by 12.4% in the second quarter. FTB Advisors Inc. now owns 6,164 shares of the railroad operator’s stock worth $1,227,000 after purchasing an additional 679 shares in the last quarter. Finally, LLBH Private Wealth Management LLC bought a new position in shares of Norfolk Southern in the second quarter worth $211,000. Hedge funds and other institutional investors own 72.23% of the company’s stock.

In related news, Director Jennifer F. Scanlon bought 525 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $191.52 per share, with a total value of $100,548.00. Following the completion of the acquisition, the director now directly owns 525 shares in the company, valued at approximately $100,548. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Several research analysts have recently issued reports on the company. TD Securities decreased their price target on Norfolk Southern from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Goldman Sachs Group assumed coverage on Norfolk Southern in a research note on Wednesday, July 10th. They issued a “buy” rating and a $237.00 price target for the company. ValuEngine cut Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Bank of America decreased their price target on Norfolk Southern from $212.00 to $198.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Cascend Securities cut Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Norfolk Southern has an average rating of “Hold” and an average target price of $203.78.

Shares of Norfolk Southern stock traded up $6.47 during trading on Friday, hitting $178.49. The stock had a trading volume of 1,356,706 shares, compared to its average volume of 1,626,773. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market cap of $43.92 billion, a P/E ratio of 18.77, a PEG ratio of 1.42 and a beta of 1.36. The business has a fifty day moving average of $176.02 and a two-hundred day moving average of $189.94. Norfolk Southern Corp. has a fifty-two week low of $138.65 and a fifty-two week high of $211.46.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.77 by ($0.07). The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.95 billion. Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 EPS. As a group, research analysts forecast that Norfolk Southern Corp. will post 10.39 earnings per share for the current year.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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