2,700 Shares in Norfolk Southern Corporation $NSC Bought by Leelyn Smith LLC

Leelyn Smith LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,700 shares of the railroad operator’s stock, valued at approximately $811,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Norfolk Southern during the 2nd quarter worth about $613,255,000. Holocene Advisors LP raised its stake in shares of Norfolk Southern by 550.6% in the 2nd quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock valued at $251,712,000 after acquiring an additional 832,210 shares in the last quarter. TOMS Capital Investment Management LP acquired a new stake in Norfolk Southern in the 2nd quarter worth approximately $181,995,000. Assenagon Asset Management S.A. lifted its holdings in Norfolk Southern by 93.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock worth $286,154,000 after purchasing an additional 459,166 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its position in Norfolk Southern by 25,497.0% during the second quarter. Laurel Wealth Advisors LLC now owns 428,750 shares of the railroad operator’s stock worth $109,747,000 after purchasing an additional 427,075 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.1%

Shares of NSC opened at $288.90 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. The company has a 50-day simple moving average of $289.68 and a 200-day simple moving average of $284.57. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The firm has a market capitalization of $64.83 billion, a P/E ratio of 22.04, a P/E/G ratio of 5.06 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 earnings per share. On average, equities research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Insider Transactions at Norfolk Southern

In other news, Director William Jr. Clyburn acquired 204 shares of the stock in a transaction dated Friday, December 5th. The shares were acquired at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the transaction, the director owned 405 shares in the company, valued at approximately $119,389.95. This trade represents a 101.49% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Anderson bought 2,600 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average price of $281.86 per share, with a total value of $732,836.00. Following the completion of the purchase, the director directly owned 7,000 shares of the company’s stock, valued at $1,973,020. This represents a 59.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 4,454 shares of company stock worth $1,259,874 over the last quarter. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NSC shares. Robert W. Baird set a $293.00 price target on shares of Norfolk Southern in a research report on Friday, December 5th. Susquehanna lifted their target price on shares of Norfolk Southern from $288.00 to $304.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. TD Cowen cut their target price on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research report on Friday, October 24th. JPMorgan Chase & Co. lowered their price target on Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Finally, Evercore ISI lifted their price objective on Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $303.52.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.