Strs Ohio Has $29.82 Million Stake in Norfolk Southern Corp. (NSC)
Strs Ohio lessened its position in Norfolk Southern Corp. (NYSE:NSC) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,550 shares of the railroad operator’s stock after selling 2,074 shares during the quarter. Strs Ohio’s holdings in Norfolk Southern were worth $29,818,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Sanders Morris Harris LLC purchased a new position in Norfolk Southern in the 1st quarter worth about $210,000. Rothschild Investment Corp IL increased its position in Norfolk Southern by 21.8% during the 1st quarter. Rothschild Investment Corp IL now owns 13,878 shares of the railroad operator’s stock valued at $2,594,000 after purchasing an additional 2,486 shares during the period. Oakbrook Investments LLC purchased a new position in Norfolk Southern during the 1st quarter valued at about $2,809,000. Unison Advisors LLC increased its position in Norfolk Southern by 0.5% during the 1st quarter. Unison Advisors LLC now owns 12,598 shares of the railroad operator’s stock valued at $2,355,000 after purchasing an additional 66 shares during the period. Finally, IFM Investors Pty Ltd increased its position in Norfolk Southern by 9.8% during the 1st quarter. IFM Investors Pty Ltd now owns 17,818 shares of the railroad operator’s stock valued at $3,330,000 after purchasing an additional 1,591 shares during the period. Hedge funds and other institutional investors own 74.39% of the company’s stock.
NSC has been the topic of a number of research reports. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Friday, March 8th. Loop Capital raised their price target on shares of Norfolk Southern to $210.00 and gave the company a “buy” rating in a report on Monday, February 11th. Morgan Stanley raised their price target on shares of Norfolk Southern from $116.00 to $133.00 and gave the company an “underweight” rating in a report on Tuesday, February 12th. Argus restated a “buy” rating on shares of Norfolk Southern in a report on Thursday, January 3rd. Finally, Royal Bank of Canada cut shares of Norfolk Southern from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $180.00 to $178.00 in a report on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $190.47.
Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 24th. The railroad operator reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.27. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. Norfolk Southern’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the business earned $1.69 EPS. As a group, equities research analysts forecast that Norfolk Southern Corp. will post 10.42 EPS for the current fiscal year.
In related news, VP Jason Andrew Zampi sold 519 shares of Norfolk Southern stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $181.34, for a total value of $94,115.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Joseph Wheeler sold 4,761 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $180.23, for a total transaction of $858,075.03. Following the completion of the sale, the chief operating officer now owns 19,724 shares of the company’s stock, valued at $3,554,856.52. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.
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Norfolk Southern Company Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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