City Holding Co. Sells 835 Shares of Norfolk Southern Co. (NYSE:NSC)

City Holding Co. lessened its position in shares of Norfolk Southern Co. (NYSE:NSC) by 13.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,304 shares of the railroad operator’s stock after selling 835 shares during the period. City Holding Co.’s holdings in Norfolk Southern were worth $1,352,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC increased its stake in Norfolk Southern by 662.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares in the last quarter. Rise Advisors LLC bought a new stake in Norfolk Southern in the first quarter valued at $34,000. Turtle Creek Wealth Advisors LLC bought a new stake in Norfolk Southern in the fourth quarter valued at $32,000. Creative Financial Designs Inc. ADV increased its stake in Norfolk Southern by 317.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new position in Norfolk Southern during the fourth quarter worth about $34,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.9 %

Shares of Norfolk Southern stock traded up $2.08 during trading on Monday, reaching $226.95. The company’s stock had a trading volume of 64,893 shares, compared to its average volume of 1,294,656. The company has a market cap of $51.27 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 2.12 and a beta of 1.31. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average is $229.90 and its two-hundred day moving average is $239.37. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.32 EPS. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 11.88 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were issued a $1.35 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.38%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Analyst Ratings Changes

Several research firms recently weighed in on NSC. Stifel Nicolaus boosted their price target on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Susquehanna dropped their target price on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada upgraded shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a research note on Thursday, May 23rd. Loop Capital boosted their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group boosted their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $264.56.

Insiders Place Their Bets

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sameh Fahmy purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now owns 7,000 shares in the company, valued at $1,534,750. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.