Norfolk Southern Co. (NYSE:NSC) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC) by 6.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,874 shares of the railroad operator’s stock after selling 120 shares during the period. Alpha Cubed Investments LLC’s holdings in Norfolk Southern were worth $440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in shares of Norfolk Southern during the third quarter valued at about $25,000. Morse Asset Management Inc purchased a new position in Norfolk Southern in the third quarter valued at about $30,000. HWG Holdings LP acquired a new stake in Norfolk Southern during the 2nd quarter valued at approximately $31,000. Coastline Trust Co purchased a new stake in Norfolk Southern during the 3rd quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern in the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target 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. TD Cowen boosted their target price 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. Bank of America increased their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. Finally, Jefferies Financial Group increased their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Price Performance

NYSE NSC opened at $251.96 on Wednesday. The company has a 50-day moving average price of $250.56 and a two-hundred day moving average price of $247.04. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The stock has a market cap of $57.00 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 2.23 and a beta of 1.34. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.65 EPS. Analysts forecast that Norfolk Southern Co. will post 11.78 EPS 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 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.