Burney Co. Lowers Holdings in Norfolk Southern Co. (NYSE:NSC)

Burney Co. reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,325 shares of the railroad operator’s stock after selling 358 shares during the quarter. Burney Co.’s holdings in Norfolk Southern were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Founders Grove Wealth Partners LLC bought a new stake in Norfolk Southern in the 4th quarter valued at $1,044,000. Park Avenue Securities LLC grew its position in shares of Norfolk Southern by 57.4% during the fourth quarter. Park Avenue Securities LLC now owns 6,149 shares of the railroad operator’s stock valued at $1,443,000 after purchasing an additional 2,242 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Norfolk Southern by 63.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 531,755 shares of the railroad operator’s stock worth $124,803,000 after purchasing an additional 206,485 shares during the last quarter. Oak Thistle LLC lifted its position in shares of Norfolk Southern by 260.4% in the fourth quarter. Oak Thistle LLC now owns 7,079 shares of the railroad operator’s stock worth $1,661,000 after buying an additional 5,115 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in Norfolk Southern by 6.5% during the fourth quarter. SeaCrest Wealth Management LLC now owns 2,499 shares of the railroad operator’s stock valued at $586,000 after buying an additional 152 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $247.19 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The stock has a market cap of $55.92 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 2.11 and a beta of 1.34. The firm has a 50-day moving average of $252.07 and a two-hundred day moving average of $246.19. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The firm 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%. Norfolk Southern’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 earnings per share. On average, research analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Susquehanna decreased their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Sanford C. Bernstein upped their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Evercore ISI dropped their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Finally, Loop Capital lifted their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and an average target price of $275.68.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 350 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.