Norfolk Southern Co. (NYSE:NSC) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co cut its position in Norfolk Southern Co. (NYSE:NSC) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,412 shares of the railroad operator’s stock after selling 736 shares during the quarter. CENTRAL TRUST Co’s holdings in Norfolk Southern were worth $3,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Hall Capital Management Co. Inc. boosted its holdings in shares of Norfolk Southern by 2.8% in the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after buying an additional 42 shares during the period. Blue Chip Partners LLC lifted its position in shares of Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after acquiring an additional 42 shares in the last quarter. Stephens Consulting LLC boosted its stake in Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after purchasing an additional 42 shares during the period. Foster Victor Wealth Advisors LLC grew its position in Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after purchasing an additional 42 shares in the last quarter. Finally, Stratos Investment Management LLC raised its stake in Norfolk Southern by 3.8% during the 3rd quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after purchasing an additional 42 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 1.4 %

Shares of Norfolk Southern stock opened at $253.42 on Friday. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock has a 50 day moving average price of $248.76 and a two-hundred day moving average price of $236.88. The stock has a market capitalization of $57.30 billion, a P/E ratio of 23.80, a PEG ratio of 2.48 and a beta of 1.31.

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

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insider Transactions at Norfolk Southern

In related news, EVP Nabanita C. Nag sold 355 shares of the 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 completion of the sale, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This trade 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 corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NSC. TD Cowen lifted their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday. Bank of America upped their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday. Barclays raised their price target on shares of Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday. Stephens reiterated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $283.00 to $288.00 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 company. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average target price of $274.16.

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.