PNC Financial Services Group Inc. Sells 5,471 Shares of Norfolk Southern Corporation $NSC

PNC Financial Services Group Inc. decreased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 369,996 shares of the railroad operator’s stock after selling 5,471 shares during the period. PNC Financial Services Group Inc. owned 0.16% of Norfolk Southern worth $111,151,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NSC. Brighton Jones LLC increased its stake in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC grew its holdings in Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after purchasing an additional 1,855 shares during the period. Sivia Capital Partners LLC bought a new stake in Norfolk Southern in the second quarter valued at $327,000. Nordea Investment Management AB increased its stake in Norfolk Southern by 6.4% in the second quarter. Nordea Investment Management AB now owns 19,598 shares of the railroad operator’s stock valued at $5,012,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Norfolk Southern by 20.4% during the second quarter. Chicago Partners Investment Group LLC now owns 4,434 shares of the railroad operator’s stock valued at $1,243,000 after purchasing an additional 752 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Norfolk Southern news, Director William Jr. Clyburn acquired 204 shares of Norfolk Southern stock in a transaction on Friday, December 5th. The stock was purchased at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the purchase, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total value of $253,440.00. Following the sale, the executive vice president directly owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This represents a 38.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is owned by insiders.

Norfolk Southern Trading Up 0.2%

NYSE NSC opened at $315.13 on Monday. The firm has a market capitalization of $70.77 billion, a P/E ratio of 24.72, a PEG ratio of 5.60 and a beta of 1.34. The business has a fifty day simple moving average of $293.78 and a 200 day simple moving average of $288.06. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $319.94. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 EPS. On average, analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Wall Street Analyst Weigh In

A number of analysts recently commented on NSC shares. BMO Capital Markets boosted their target price on Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Sanford C. Bernstein reduced their price objective on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft downgraded Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price objective for the company from $354.00 to $297.00 in a report on Thursday, December 11th. Royal Bank Of Canada cut their target price on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a report on Friday, January 30th. Finally, Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $304.47.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.