Clear Harbor Asset Management LLC Has $847,000 Stake in Norfolk Southern Co. (NYSE:NSC)

Clear Harbor Asset Management LLC raised its position in Norfolk Southern Co. (NYSE:NSC) by 18.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,607 shares of the railroad operator’s stock after buying an additional 559 shares during the period. Clear Harbor Asset Management LLC’s holdings in Norfolk Southern were worth $847,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. ZWJ Investment Counsel Inc. increased its stake in shares of Norfolk Southern by 1.3% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 8,014 shares of the railroad operator’s stock valued at $1,881,000 after buying an additional 100 shares during the period. Zhang Financial LLC grew its holdings in Norfolk Southern by 17.3% during the 4th quarter. Zhang Financial LLC now owns 1,126 shares of the railroad operator’s stock worth $264,000 after acquiring an additional 166 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Norfolk Southern by 2.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,507 shares of the railroad operator’s stock valued at $588,000 after acquiring an additional 49 shares during the period. Diversify Advisory Services LLC raised its stake in shares of Norfolk Southern by 27.5% during the fourth quarter. Diversify Advisory Services LLC now owns 1,842 shares of the railroad operator’s stock valued at $431,000 after acquiring an additional 397 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of Norfolk Southern by 6.8% in the fourth quarter. HB Wealth Management LLC now owns 23,405 shares of the railroad operator’s stock worth $5,493,000 after purchasing an additional 1,486 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 2.7 %

Shares of NYSE:NSC opened at $251.96 on Wednesday. The firm has a market cap of $57.00 billion, a P/E ratio of 23.66, a PEG ratio of 2.23 and a beta of 1.34. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The business’s 50 day simple moving average is $250.56 and its two-hundred day simple moving average is $247.04. 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 (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm posted $2.65 EPS. Norfolk Southern’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Insider Activity

In related news, Director Sameh Fahmy bought 350 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NSC shares. JPMorgan Chase & Co. raised their target price on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America lifted their price objective on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Susquehanna dropped their price target on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, TD Cowen increased their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $275.68.

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.