Portland Global Advisors LLC reduced its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 3.7% in the first quarter, HoldingsChannel.com reports. The firm owned 25,383 shares of the railroad operator’s stock after selling 965 shares during the period. Norfolk Southern comprises 1.7% of Portland Global Advisors LLC’s investment portfolio, making the stock its 11th largest position. Portland Global Advisors LLC’s holdings in Norfolk Southern were worth $4,744,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Bruderman Asset Management LLC bought a new position in Norfolk Southern in the fourth quarter worth about $26,000. Intercontinental Wealth Advisors LLC bought a new position in Norfolk Southern in the fourth quarter worth about $27,000. Moody National Bank Trust Division bought a new position in Norfolk Southern in the fourth quarter worth about $31,000. Pinnacle Bank bought a new position in Norfolk Southern in the fourth quarter worth about $33,000. Finally, PRW Wealth Management LLC bought a new position in Norfolk Southern in the fourth quarter worth about $36,000. Institutional investors own 74.39% of the company’s stock.
In other news, VP Jason Andrew Zampi sold 519 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $181.34, for a total transaction of $94,115.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Joseph Wheeler sold 4,761 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $180.23, for a total transaction of $858,075.03. Following the sale, the chief operating officer now owns 19,724 shares in the company, valued at approximately $3,554,856.52. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Shares of NYSE NSC traded down $1.40 on Monday, reaching $194.75. 8,515 shares of the company’s stock traded hands, compared to its average volume of 1,378,095. Norfolk Southern Corp. has a 12 month low of $132.93 and a 12 month high of $196.57. The company has a market capitalization of $52.46 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.64 and a beta of 1.43. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.64 and a current ratio of 0.72.
Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.27. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the firm earned $1.69 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast that Norfolk Southern Corp. will post 10.39 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research note on Monday, December 17th. Argus raised their target price on shares of Norfolk Southern to $210.00 and gave the company a “positive” rating in a research note on Monday, April 8th. ValuEngine raised shares of Norfolk Southern from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. Bank of America raised shares of Norfolk Southern from a “neutral” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Monday, April 1st. Finally, Loop Capital raised their target price on shares of Norfolk Southern to $210.00 and gave the company a “buy” rating in a research note on Monday, February 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Norfolk Southern currently has an average rating of “Hold” and an average price target of $190.47.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://www.thelincolnianonline.com/2019/04/15/portland-global-advisors-llc-has-4-74-million-stake-in-norfolk-southern-corp-nsc.html.
Norfolk Southern Company 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.
Featured Article: Risk Tolerance
Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corp. (NYSE:NSC).
Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.