Inscription Capital LLC Takes $1.05 Million Position in Norfolk Southern Corporation $NSC

Inscription Capital LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,495 shares of the railroad operator’s stock, valued at approximately $1,050,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Horizon Bancorp Inc. IN raised its holdings in shares of Norfolk Southern by 54.8% in the third quarter. Horizon Bancorp Inc. IN now owns 1,469 shares of the railroad operator’s stock valued at $441,000 after buying an additional 520 shares during the last quarter. Arkadios Wealth Advisors increased its position in Norfolk Southern by 8.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 4,702 shares of the railroad operator’s stock valued at $1,412,000 after acquiring an additional 369 shares during the period. Tradewinds LLC. purchased a new stake in Norfolk Southern during the 3rd quarter valued at approximately $316,000. Allstate Corp acquired a new stake in Norfolk Southern during the 3rd quarter worth approximately $2,386,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Norfolk Southern by 2.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 69,811 shares of the railroad operator’s stock valued at $20,654,000 after purchasing an additional 1,962 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NSC shares. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Deutsche Bank Aktiengesellschaft cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their target price for the stock from $354.00 to $297.00 in a research note on Thursday, December 11th. Wolfe Research boosted their price target on shares of Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. TD Cowen reduced their price objective on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. dropped their target price on Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $303.52.

Insider Transactions at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of the business’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 sale, the executive vice president directly owned 1,413 shares in the company, valued at $397,900.80. The trade was a 38.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 1,650 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average cost of $282.97 per share, for a total transaction of $466,900.50. Following the completion of the purchase, the director owned 12,000 shares in the company, valued at $3,395,640. The trade was a 15.94% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 4,454 shares of company stock valued at $1,259,874 in the last three months. 0.06% of the stock is owned by company insiders.

Norfolk Southern Stock Down 3.6%

NSC stock opened at $280.06 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average price is $289.53 and its 200 day moving average price is $284.51. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The company has a market cap of $62.84 billion, a P/E ratio of 21.36, a P/E/G ratio of 5.09 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. Norfolk Southern’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.25 earnings per share. On average, research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Profile

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.