First National Trust Co Trims Stock Position in Norfolk Southern Co. (NYSE:NSC)

First National Trust Co decreased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,333 shares of the railroad operator’s stock after selling 42 shares during the quarter. First National Trust Co’s holdings in Norfolk Southern were worth $1,574,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after buying an additional 2,453 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the period. Seven Eight Capital LP acquired a new stake in Norfolk Southern during the 2nd quarter worth $1,676,000. Dakota Wealth Management grew its position in Norfolk Southern by 2.1% during the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after purchasing an additional 150 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Norfolk Southern in the second quarter valued at $13,627,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.4 %

Shares of NYSE NSC opened at $267.45 on Wednesday. The stock has a market capitalization of $60.51 billion, a PE ratio of 25.11, a P/E/G ratio of 2.57 and a beta of 1.30. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The firm has a fifty day moving average of $252.07 and a 200-day moving average of $238.05. Norfolk Southern Co. has a 52-week low of $195.76 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.65 earnings per share. On average, analysts anticipate that Norfolk Southern Co. will post 11.81 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.02%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of recent research reports. Stifel Nicolaus boosted their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their target price on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Stephens reiterated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday, October 23rd. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $274.89.

Insider Transactions at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the company’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 completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’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 sale, the chief executive officer now directly 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 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.