Amundi Pioneer Asset Management Inc. lessened its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,253 shares of the railroad operator’s stock after selling 50,960 shares during the quarter. Amundi Pioneer Asset Management Inc. owned approximately 0.13% of Norfolk Southern worth $64,151,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Norfolk Southern during the first quarter valued at $25,000. Bruderman Asset Management LLC purchased a new position in shares of Norfolk Southern during the 4th quarter valued at about $26,000. Weaver Consulting Group purchased a new position in shares of Norfolk Southern during the 1st quarter valued at about $30,000. Pinnacle Bank purchased a new position in shares of Norfolk Southern during the 4th quarter valued at about $33,000. Finally, PRW Wealth Management LLC purchased a new position in shares of Norfolk Southern during the 4th quarter valued at about $36,000. Institutional investors own 72.56% of the company’s stock.
In other Norfolk Southern news, COO Michael Joseph Wheeler sold 2,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $204.57, for a total transaction of $511,425.00. Following the completion of the transaction, the chief operating officer now owns 12,919 shares of the company’s stock, valued at $2,642,839.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman James A. Squires sold 3,024 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total value of $619,043.04. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.34. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. Analysts expect that Norfolk Southern Corp. will post 10.82 earnings per share for the current year.
NSC has been the topic of several recent analyst reports. ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. Goldman Sachs Group downgraded EXPERIAN PLC/ADR from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 10th. Argus lifted their price objective on Norfolk Southern from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Citigroup set a $20.00 target price on Compania de Minas Buenaventura SAA and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Cowen reiterated an “outperform” rating and issued a $230.00 target price (up previously from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Norfolk Southern currently has a consensus rating of “Hold” and a consensus price target of $204.47.
Norfolk Southern 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.
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