Red Door Wealth Management LLC Acquires 53 Shares of Norfolk Southern Co. (NYSE:NSC)

Red Door Wealth Management LLC increased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 3.7% during the fourth quarter, Holdings Channel reports. The fund owned 1,468 shares of the railroad operator’s stock after purchasing an additional 53 shares during the period. Red Door Wealth Management LLC’s holdings in Norfolk Southern were worth $345,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. State Street Corp grew its position in Norfolk Southern by 2.1% during the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock worth $2,318,716,000 after acquiring an additional 196,249 shares during the last quarter. Geode Capital Management LLC grew its position in Norfolk Southern by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after acquiring an additional 62,186 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in Norfolk Southern by 2.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock worth $967,340,000 after acquiring an additional 103,281 shares during the last quarter. Mizuho Securities USA LLC grew its position in Norfolk Southern by 18,831.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after acquiring an additional 3,280,579 shares during the last quarter. Finally, FMR LLC grew its position in Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after acquiring an additional 881,415 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NSC. UBS Group lifted their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America lifted their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays lifted their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Stock Performance

NSC stock opened at $254.91 on Friday. The business’s 50-day moving average price is $249.73 and its two-hundred day moving average price is $247.39. 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 $57.67 billion, a PE ratio of 23.93, a P/E/G ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.65 earnings per share. As a group, research analysts forecast that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

About Norfolk Southern

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.