Clarendon Private LLC Acquires Shares of 1,318 Norfolk Southern Co. (NYSE:NSC)

Clarendon Private LLC bought a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,318 shares of the railroad operator’s stock, valued at approximately $309,000.

Several other hedge funds have also added to or reduced their stakes in NSC. Principal Financial Group Inc. boosted its stake in shares of Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after purchasing an additional 8,844 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after acquiring an additional 3,621 shares during the period. Pathway Financial Advisers LLC raised its position in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the last quarter. Finally, Grandview Asset Management LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $918,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.5 %

NYSE:NSC opened at $254.91 on Friday. The firm has a market capitalization of $57.67 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The stock’s 50 day moving average price is $249.61 and its two-hundred day moving average price is $247.68.

Analyst Ratings Changes

NSC has been the subject of a number of analyst reports. Barclays lifted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Stephens reaffirmed an “equal weight” rating and issued a $263.00 price target on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. TD Cowen increased their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $275.68.

Insider Buying and Selling

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the 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 completion of the transaction, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate 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.