Country Club Bank Has $1.36 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Country Club Bank cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,519 shares of the railroad operator’s stock after selling 70 shares during the quarter. Country Club Bank’s holdings in Norfolk Southern were worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NSC. Boston Partners lifted its position in Norfolk Southern by 157.1% during the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after acquiring an additional 1,766,135 shares during the last quarter. Vanguard Group Inc. lifted its position in Norfolk Southern by 5.9% during the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after acquiring an additional 1,088,072 shares during the last quarter. American Century Companies Inc. lifted its position in Norfolk Southern by 17.3% during the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after acquiring an additional 496,088 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Norfolk Southern by 10.2% in the first quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock valued at $956,285,000 after buying an additional 347,852 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Norfolk Southern by 23,037.4% in the third quarter. International Assets Investment Management LLC now owns 349,143 shares of the railroad operator’s stock valued at $86,762,000 after buying an additional 347,634 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NSC has been the subject of a number of analyst reports. Barclays lifted their price target on shares of Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup lifted their price target on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada lifted their price target on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $251.09 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $56.77 billion, a PE ratio of 23.58, a P/E/G ratio of 2.48 and a beta of 1.31. Norfolk Southern Co. has a 12 month low of $183.76 and a 12 month high of $263.66. The stock has a 50-day moving average price of $249.22 and a two-hundred day moving average price of $236.88.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $2.65 earnings per share. Analysts expect that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.15%. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Insider Transactions at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sameh Fahmy acquired 700 shares of the stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 3,700 shares of company stock worth $921,565 over the last ninety days. 0.19% of the stock is owned by insiders.

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.