Sandy Spring Bank Sells 2,846 Shares of Norfolk Southern Corp. (NSC)

Sandy Spring Bank lowered its stake in Norfolk Southern Corp. (NYSE:NSC) by 7.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,228 shares of the railroad operator’s stock after selling 2,846 shares during the period. Sandy Spring Bank’s holdings in Norfolk Southern were worth $6,210,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NSC. BB&T Corp grew its holdings in Norfolk Southern by 6.0% during the first quarter. BB&T Corp now owns 81,679 shares of the railroad operator’s stock worth $15,265,000 after acquiring an additional 4,639 shares during the period. Sontag Advisory LLC acquired a new position in Norfolk Southern during the fourth quarter worth $80,000. Fosun International Ltd acquired a new position in Norfolk Southern during the fourth quarter worth $238,000. Canada Pension Plan Investment Board grew its holdings in Norfolk Southern by 71.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 247,910 shares of the railroad operator’s stock worth $37,069,000 after acquiring an additional 103,700 shares during the period. Finally, Whitehelm Capital Pty Ltd grew its holdings in Norfolk Southern by 19.9% during the fourth quarter. Whitehelm Capital Pty Ltd now owns 45,338 shares of the railroad operator’s stock worth $6,780,000 after acquiring an additional 7,521 shares during the period. 74.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:NSC opened at $200.53 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Norfolk Southern Corp. has a 52-week low of $138.65 and a 52-week high of $211.46. The firm has a market capitalization of $52.34 billion, a PE ratio of 21.09, a P/E/G ratio of 1.52 and a beta of 1.44.



Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.34. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business earned $1.93 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern Corp. will post 10.73 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 3rd will be given a $0.86 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $3.44 annualized dividend and a dividend yield of 1.72%. Norfolk Southern’s dividend payout ratio is currently 36.17%.

In other news, VP Jason Andrew Zampi sold 519 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $181.34, for a total value of $94,115.46. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Michael Joseph Wheeler sold 2,500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $204.57, for a total value of $511,425.00. Following the completion of the sale, the chief operating officer now owns 12,919 shares in the company, valued at $2,642,839.83. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

A number of analysts have commented on NSC shares. TD Securities boosted their target price on Norfolk Southern from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 12th. Citigroup boosted their target price on Norfolk Southern from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Credit Suisse Group boosted their target price on Norfolk Southern from $181.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 12th. Morgan Stanley boosted their target price on Norfolk Southern from $133.00 to $138.00 and gave the stock an “underweight” rating in a research report on Monday, April 29th. Finally, Cowen reiterated an “outperform” rating and set a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Norfolk Southern has a consensus rating of “Buy” and a consensus target price of $202.06.

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Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

Further Reading: Debt-To-Equity Ratio

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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