Teacher Retirement System of Texas Lowers Stock Holdings in Norfolk Southern Corporation $NSC

Teacher Retirement System of Texas cut its position in Norfolk Southern Corporation (NYSE:NSC) by 70.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,793 shares of the railroad operator’s stock after selling 82,002 shares during the quarter. Teacher Retirement System of Texas’ holdings in Norfolk Southern were worth $10,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Aberdeen Group plc grew its stake in shares of Norfolk Southern by 6.4% in the second quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock worth $135,610,000 after acquiring an additional 31,878 shares in the last quarter. Park Place Capital Corp boosted its holdings in Norfolk Southern by 13,000.0% in the third quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock valued at $1,102,000 after purchasing an additional 3,640 shares during the period. Morningstar Investment Management LLC acquired a new position in Norfolk Southern during the 2nd quarter worth $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Norfolk Southern by 682.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock worth $14,337,000 after purchasing an additional 48,850 shares during the period. Finally, First Horizon Corp acquired a new stake in Norfolk Southern in the 3rd quarter valued at about $565,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.6%

Shares of Norfolk Southern stock opened at $287.31 on Monday. 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 has a fifty day simple moving average of $289.75 and a 200-day simple moving average of $285.10. The stock has a market cap of $64.47 billion, a price-to-earnings ratio of 21.92, a PEG 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.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. Morgan Stanley upgraded shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Evercore ISI increased their price objective on shares of Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Zacks Research cut shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 19th. Finally, UBS Group dropped their target price on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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 firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total transaction of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares in the company, valued at $397,900.80. This trade represents a 38.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy purchased 1,650 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were 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. This trade represents a 15.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.06% of the company’s stock.

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.