J. W. Burns & Company Cuts Stake in Norfolk Southern Corp. (NSC …
J. W. Burns & Company cut its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 39,677 shares of the railroad operator s stock after selling 1,010 shares during the period. Norfolk Southern Corp. makes up about 1.1% of J. W. Burns & Company s portfolio, making the stock its 29th largest position. J. W. Burns & Company s holdings in Norfolk Southern Corp. were worth $3,356,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. McQueen, Ball & Associates acquired a new position in shares of Norfolk Southern Corp. during the fourth quarter valued at approximately $1,508,000. J. Goldman & Company purchased a new stake in Norfolk Southern Corp. during the third quarter valued at about $11,854,000. M. Kraus & Company raised its stake in 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. West Oak Capital raised its stake in 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. Finally, Park National raised its stake in Norfolk Southern Corp. by 6.4% in the fourth quarter. Park National now owns 19,133 shares of the railroad operator s stock valued at $1,619,000 after buying an additional 1,154 shares in the last quarter. Norfolk Southern Corp. (NYSE:NSC) opened at 75.93 on Wednesday. The stock has a market capitalization of $22.67 billion and a PE ratio of 13.71. The firm has a 50-day moving average of $86.97 and a 200-day moving average of $83.24. Norfolk Southern Corp. has a 1-year low of $72.10 and a 1-year high of $112.05. Norfolk Southern Corp. (NYSE:NSC) last released its quarterly earnings data on Wednesday, October 28th. The railroad operator reported $1.57 earnings per share for the quarter, beating analysts consensus estimates of $1.41 by $0.16. During the same quarter in the prior year, the business posted $1.79 earnings per share. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.72 billion. The firm s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Corp. will post $5.21 EPS for the current fiscal year.
Several research firms recently issued reports on NSC. BMO Capital Markets lowered shares of Norfolk Southern Corp. from an outperform rating to a market perform rating and set a $98.00 price target on the stock. in a research report on Monday, November 23rd. They noted that the move was a valuation call. Topeka Capital Markets increased their price target on shares of Norfolk Southern Corp. from $94.00 to $97.00 and gave the stock a hold rating in a research report on Wednesday, November 25th. Credit Suisse reiterated a hold rating and set a $82.00 price target (down previously from $92.06) on shares of Norfolk Southern Corp. in a research report on Monday, December 7th. Barclays upgraded shares of Norfolk Southern Corp. from an underweight rating to an equal weight rating and raised their target price for the company from $76.00 to $95.00 in a research report on Monday, December 7th. Finally, Vetr lowered shares of Norfolk Southern Corp. from a buy rating to a hold rating and set a $87.00 target price on the stock. in a research report on Monday, November 9th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price 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. document.write( );
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