Curbstone Financial Management Corp Trims Holdings in Norfolk Southern Co. (NYSE:NSC)

Curbstone Financial Management Corp decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,432 shares of the railroad operator’s stock after selling 50 shares during the period. Curbstone Financial Management Corp’s holdings in Norfolk Southern were worth $571,000 as of its most recent SEC filing.

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

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Susquehanna lowered their price objective 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. Royal Bank of Canada increased their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Stephens reiterated an “equal weight” rating and set a $263.00 price target on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Finally, Evercore ISI lowered their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One equities 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 company. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $259.70 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a market cap of $58.76 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a 50-day moving average price of $249.61 and a 200-day moving average price of $248.15.

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.