Capital Investment Advisors Cuts Stake in Norfolk Southern Corp …
Capital Investment Advisors cut its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,005 shares of the railroad operator s stock after selling 1,793 shares during the period. Capital Investment Advisors holdings in Norfolk Southern Corp. were worth $1,692,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Chicago Trust Company raised its position in shares of Norfolk Southern Corp. by 2.7% in the fourth quarter. Chicago Trust Company now owns 20,416 shares of the railroad operator s stock valued at $1,727,000 after buying an additional 546 shares in the last quarter. McQueen, Ball & Associates acquired a new position in shares of Norfolk Southern Corp. during the fourth quarter valued at $1,508,000. M. Kraus & Company raised its position in shares of Norfolk Southern Corp. by 2.3% in the fourth quarter. M. Kraus & Company now owns 53,207 shares of the railroad operator s stock valued at $4,501,000 after buying an additional 1,208 shares in the last quarter. Community Bank & Trust of Waco, Texas acquired a new position in shares of Norfolk Southern Corp. during the fourth quarter valued at $874,000. Finally, West Oak Capital raised its position in shares of Norfolk Southern Corp. by 5.7% in the fourth quarter. West Oak Capital now owns 12,058 shares of the railroad operator s stock valued at $1,019,986 after buying an additional 650 shares in the last quarter. Shares of Norfolk Southern Corp. (NYSE:NSC) traded down 2.11% during mid-day trading on Friday, reaching $68.59. 2,322,110 shares of the company s stock were exchanged. Norfolk Southern Corp. has a 52-week low of $66.51 and a 52-week high of $112.05. The company has a market cap of $20.48 billion and a PE ratio of 12.39. The company s 50-day moving average price is $82.02 and its 200 day moving average price is $82.47. Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 28th. The railroad operator reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks consensus estimate of $1.41 by $0.16. The firm earned $2.71 billion during the quarter, compared to analyst estimates of $2.72 billion. The firm s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.79 EPS. On average, equities research analysts predict that Norfolk Southern Corp. will post $5.16 EPS for the current year.
Several brokerages recently weighed in on NSC. Susquehanna cut their price objective on shares of Norfolk Southern Corp. from $96.00 to $92.00 in a report on Tuesday, January 12th. Stifel Nicolaus cut their price objective on shares of Norfolk Southern Corp. from $93.00 to $84.00 in a report on Tuesday, January 12th. Deutsche Bank restated a hold rating and issued a $83.00 price objective (down from $93.00) on shares of Norfolk Southern Corp. in a report on Monday, January 11th. Zacks Investment Research lowered shares of Norfolk Southern Corp. from a hold rating to a sell rating in a report on Monday, January 4th. Finally, BMO Capital Markets cut their price objective on shares of Norfolk Southern Corp. from $98.00 to $88.00 and set a market perform rating on the stock in a report on Monday, January 4th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company s stock. Norfolk Southern Corp. currently has an average rating of Hold and an average price target of $90.47.
Norfolk Southern Corporation is a holding company. The Company owns a freight railroad, Norfolk Southern Railway Company. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest and through interchange with rail carriers, to and from the rest of the United States. The Company also transports overseas freight through various Atlantic and Gulf Coast ports. It provides logistics services and offers an intermodal network in the eastern half of the United States. The Company s system reaches various individual industries, electric generating facilities, mines, distribution centers, transload facilities and other businesses located in its service area. The Company s general merchandise market group is composed of five commodity groupings: chemicals; metals and construction; agriculture, consumer products, and Government; automotive, and paper, clay and forest products.
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