MEMBERS Trust Co lessened its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,997 shares of the railroad operator’s stock after selling 104 shares during the period. MEMBERS Trust Co’s holdings in Norfolk Southern were worth $427,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in NSC. Raymond James Financial Services Advisors Inc. boosted its holdings in Norfolk Southern by 4.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 109,520 shares of the railroad operator’s stock valued at $19,230,000 after acquiring an additional 4,300 shares during the period. Valeo Financial Advisors LLC raised its position in Norfolk Southern by 11.4% during the second quarter. Valeo Financial Advisors LLC now owns 6,222 shares of the railroad operator’s stock valued at $1,092,000 after acquiring an additional 639 shares in the last quarter. Capital Investment Advisors LLC boosted its position in Norfolk Southern by 0.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 28,917 shares of the railroad operator’s stock worth $5,077,000 after purchasing an additional 162 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Norfolk Southern by 13.7% during the 2nd quarter. Empirical Finance LLC now owns 1,770 shares of the railroad operator’s stock worth $311,000 after purchasing an additional 213 shares during the period. Finally, Heritage Way Advisors LLC increased its holdings in shares of Norfolk Southern by 1.5% during the 2nd quarter. Heritage Way Advisors LLC now owns 17,761 shares of the railroad operator’s stock valued at $3,118,000 after purchasing an additional 271 shares in the last quarter. 66.94% of the stock is owned by hedge funds and other institutional investors.
In other Norfolk Southern news, EVP Ann A. Adams sold 1,370 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $213.86, for a total value of $292,988.20. Following the sale, the executive vice president now owns 8,011 shares of the company’s stock, valued at $1,713,232.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.
Shares of NYSE:NSC traded down $3.54 on Tuesday, reaching $243.23. 9,967 shares of the company were exchanged, compared to its average volume of 1,606,499. The company has a 50-day moving average of $218.23 and a 200-day moving average of $196.85. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.85. The firm has a market cap of $67.69 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 3.22 and a beta of 1.42. Norfolk Southern Co. has a 1-year low of $112.62 and a 1-year high of $247.25.
Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 28th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.15. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. As a group, analysts forecast that Norfolk Southern Co. will post 9.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Thursday, November 5th. This represents a $3.76 annualized dividend and a yield of 1.55%. Norfolk Southern’s dividend payout ratio is presently 36.36%.
NSC has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of Norfolk Southern from $220.00 to $230.00 and gave the stock a “market perform” rating in a research note on Thursday, October 29th. Argus boosted their price objective on Norfolk Southern from $210.00 to $225.00 in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Norfolk Southern from $176.00 to $190.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. UBS Group cut their target price on shares of Norfolk Southern from $250.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Finally, Benchmark upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Friday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $213.00.
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 industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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