Greenleaf Trust Has $2.07 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Greenleaf Trust lessened its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,339 shares of the railroad operator’s stock after selling 194 shares during the quarter. Greenleaf Trust’s holdings in Norfolk Southern were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Seven Eight Capital LP acquired a new position in Norfolk Southern in the second quarter worth $1,676,000. Manning & Napier Advisors LLC bought a new position in shares of Norfolk Southern during the 2nd quarter valued at about $13,627,000. Broderick Brian C acquired a new position in shares of Norfolk Southern in the first quarter valued at approximately $956,000. OFI Invest Asset Management acquired a new position in Norfolk Southern in the 2nd quarter worth $846,000. Finally, Hoxton Planning & Management LLC bought a new position in shares of Norfolk Southern during the third quarter worth about $583,000. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on NSC shares. TD Cowen upped their target price on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday. Morgan Stanley reiterated an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. 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. Evercore ISI reduced their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Insiders Place Their Bets

In related news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern Trading Down 1.3 %

Shares of NSC opened at $256.98 on Thursday. The firm has a 50 day moving average price of $248.76 and a 200-day moving average price of $236.88. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The firm has a market cap of $58.06 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 EPS. As a group, equities research analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is currently 86.96%.

Norfolk Southern 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 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.