Norfolk Southern Corporation $NSC Shares Bought by Markel Group Inc.

Markel Group Inc. lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 256,500 shares of the railroad operator’s stock after acquiring an additional 20,000 shares during the quarter. Markel Group Inc.’s holdings in Norfolk Southern were worth $77,055,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at $613,255,000. Holocene Advisors LP boosted its stake in Norfolk Southern by 550.6% during the second quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock valued at $251,712,000 after buying an additional 832,210 shares in the last quarter. TOMS Capital Investment Management LP acquired a new position in Norfolk Southern during the second quarter worth about $181,995,000. Assenagon Asset Management S.A. raised its position in Norfolk Southern by 93.1% in the third quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock worth $286,154,000 after acquiring an additional 459,166 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its holdings in Norfolk Southern by 25,497.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 428,750 shares of the railroad operator’s stock valued at $109,747,000 after acquiring an additional 427,075 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $288.39 on Tuesday. The company’s fifty day moving average is $289.88 and its two-hundred day moving average is $285.28. The company has a market cap of $64.71 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 5.03 and a beta of 1.33. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

Insider Buying and Selling

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,650 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was purchased at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at $3,395,640. The trade was a 15.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anil Bhatt sold 900 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total value of $253,440.00. Following the completion of the transaction, the executive vice president owned 1,413 shares in the company, valued at $397,900.80. This represents a 38.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on NSC shares. JPMorgan Chase & Co. dropped their target price on shares of Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Robert W. Baird set a $293.00 price target on shares of Norfolk Southern in a research report on Friday, December 5th. Susquehanna increased their price objective on Norfolk Southern from $288.00 to $304.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft cut Norfolk Southern from a “buy” rating to a “hold” rating and decreased their target price for the stock from $354.00 to $297.00 in a report on Thursday, December 11th. Finally, Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $303.52.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.