AEGON ASSET MANAGEMENT UK Plc Sells 9,688 Shares of Norfolk Southern Co. (NYSE:NSC)

AEGON ASSET MANAGEMENT UK Plc reduced its holdings in Norfolk Southern Co. (NYSE:NSC) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,537 shares of the railroad operator’s stock after selling 9,688 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Norfolk Southern were worth $15,634,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Lake Street Advisors Group LLC boosted its holdings in Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after purchasing an additional 41 shares during the period. Raab & Moskowitz Asset Management LLC lifted its stake in shares of Norfolk Southern by 2.4% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after buying an additional 41 shares during the period. Foster Victor Wealth Advisors LLC grew its position in Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after buying an additional 42 shares in the last quarter. Stratos Investment Management LLC increased its stake in Norfolk Southern by 3.8% during the third quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after acquiring an additional 42 shares during the period. Finally, Archer Investment Corp raised its holdings in Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock valued at $481,000 after acquiring an additional 43 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI reduced their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group upped their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Citigroup upped their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $254.91 on Friday. The company’s 50-day moving average is $249.61 and its two-hundred day moving average is $247.68. The company has a market cap of $57.67 billion, a PE ratio of 23.93, a PEG 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. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

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. 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 for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $2.65 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Insider Activity

In other news, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Company 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.