Norfolk Southern Corp. (NYSE:NSC) Shares Sold by Charter Trust Co.

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Charter Trust Co. decreased its stake in shares of Norfolk Southern Corp. (NYSE:NSC) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,859 shares of the railroad operator’s stock after selling 835 shares during the period. Charter Trust Co.’s holdings in Norfolk Southern were worth $1,293,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NSC. Monetary Management Group Inc. boosted its position in shares of Norfolk Southern by 11.1% during the 1st quarter. Monetary Management Group Inc. now owns 1,250 shares of the railroad operator’s stock valued at $182,000 after purchasing an additional 125 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Norfolk Southern by 2.2% during the 1st quarter. Legal & General Group Plc now owns 2,059,037 shares of the railroad operator’s stock valued at $300,977,000 after purchasing an additional 45,271 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Norfolk Southern by 214.2% during the 1st quarter. APG Asset Management N.V. now owns 96,247 shares of the railroad operator’s stock valued at $16,020,000 after purchasing an additional 65,616 shares in the last quarter. FormulaFolio Investments LLC boosted its position in shares of Norfolk Southern by 11.8% during the 1st quarter. FormulaFolio Investments LLC now owns 2,072 shares of the railroad operator’s stock valued at $303,000 after purchasing an additional 219 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Norfolk Southern during the 1st quarter valued at about $64,634,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

In related news, COO Michael Joseph Wheeler sold 10,080 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $182.96, for a total transaction of $1,844,236.80. Following the transaction, the chief operating officer now owns 31,844 shares of the company’s stock, valued at $5,826,178.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James A. Squires sold 50,797 shares of Norfolk Southern stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $191.48, for a total transaction of $9,726,609.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,388 shares of company stock worth $13,616,926. Insiders own 0.32% of the company’s stock.

Several research firms have recently weighed in on NSC. Evercore ISI upgraded shares of Norfolk Southern from an “in-line” rating to an “outperform” rating in a research report on Wednesday, May 20th. Citigroup raised their target price on shares of Norfolk Southern from $150.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $189.00 to $199.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley raised their target price on shares of Norfolk Southern from $116.00 to $122.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Co raised their target price on shares of Norfolk Southern from $183.00 to $194.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $190.59.

Shares of NSC stock traded down $9.28 during trading on Thursday, hitting $179.27. 46,869 shares of the company were exchanged, compared to its average volume of 1,835,256. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.78 and a current ratio of 0.90. The firm has a market capitalization of $53.10 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 3.12 and a beta of 1.38. The business’s 50-day simple moving average is $172.86 and its 200 day simple moving average is $181.00. Norfolk Southern Corp. has a twelve month low of $112.62 and a twelve month high of $219.88.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 29th. The railroad operator reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.33. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.57 billion. Norfolk Southern had a net margin of 21.89% and a return on equity of 18.12%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 earnings per share. On average, equities analysts forecast that Norfolk Southern Corp. will post 8.93 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, May 7th. Norfolk Southern’s payout ratio is presently 36.36%.

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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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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