Accurate Wealth Management LLC Buys New Stake in Norfolk Southern Co. (NYSE:NSC)

Accurate Wealth Management LLC purchased a new position in Norfolk Southern Co. (NYSE:NSC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,524 shares of the railroad operator’s stock, valued at approximately $357,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in shares of Norfolk Southern in the third quarter valued at $25,000. Morse Asset Management Inc purchased a new position in shares of Norfolk Southern in the 3rd quarter worth $30,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern in the 2nd quarter worth about $31,000. Coastline Trust Co purchased a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $32,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Norfolk Southern in the 3rd quarter valued at about $33,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $247.19 on Friday. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. 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 firm has a market cap of $55.92 billion, a P/E ratio of 23.21, a P/E/G ratio of 2.11 and a beta of 1.34. The stock’s fifty day moving average price is $252.07 and its 200-day moving average price is $246.19.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business posted $2.65 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NSC shares. Benchmark upped their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays boosted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein raised their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, UBS Group upped their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy acquired 350 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Norfolk Southern 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.