Exchange Bank Lowers Stock Position in Norfolk Southern Co. (NYSE:NSC)

Exchange Bank lessened its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,056 shares of the railroad operator’s stock after selling 100 shares during the period. Norfolk Southern comprises 1.3% of Exchange Bank’s holdings, making the stock its 22nd biggest position. Exchange Bank’s holdings in Norfolk Southern were worth $1,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NSC. Norges Bank purchased a new position in shares of Norfolk Southern during the fourth quarter worth $556,797,000. American Century Companies Inc. grew its position in Norfolk Southern by 69.0% during the third quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after buying an additional 1,112,261 shares during the period. Stifel Financial Corp grew its position in Norfolk Southern by 600.3% during the fourth quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock valued at $241,421,000 after buying an additional 875,473 shares during the period. London Co. of Virginia grew its position in Norfolk Southern by 41.2% during the third quarter. London Co. of Virginia now owns 1,976,871 shares of the railroad operator’s stock valued at $389,305,000 after buying an additional 577,171 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its position in Norfolk Southern by 1,956.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 451,226 shares of the railroad operator’s stock valued at $106,661,000 after buying an additional 429,288 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NSC shares. Loop Capital lifted their target price 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. Stifel Nicolaus raised their price target on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. UBS Group decreased their price target on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company decreased their price target on shares of Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $262.89.

Norfolk Southern Stock Up 0.3 %

Shares of NSC stock traded up $0.67 during trading on Wednesday, reaching $214.04. The company’s stock had a trading volume of 357,868 shares, compared to its average volume of 1,315,982. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. The company has a market capitalization of $48.35 billion, a price-to-earnings ratio of 34.36, a P/E/G ratio of 2.01 and a beta of 1.31. The stock’s 50-day moving average price is $228.77 and its 200 day moving average price is $239.25. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

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

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Insider Activity

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

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.