Glenview Trust Co Has $10.54 Million Holdings in Norfolk Southern Corporation $NSC

Glenview Trust Co lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,709 shares of the railroad operator’s stock after selling 3,581 shares during the quarter. Glenview Trust Co’s holdings in Norfolk Southern were worth $10,535,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. AlTi Global Inc. acquired a new position in Norfolk Southern during the first quarter worth $211,000. Dimensional Fund Advisors LP boosted its stake in shares of Norfolk Southern by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock valued at $648,429,000 after purchasing an additional 46,127 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Norfolk Southern by 1.9% in the 1st quarter. Parallel Advisors LLC now owns 4,279 shares of the railroad operator’s stock valued at $1,228,000 after purchasing an additional 79 shares in the last quarter. Decker Wealth Management LLC bought a new stake in shares of Norfolk Southern in the 1st quarter worth about $265,000. Finally, KBC Group NV grew its holdings in shares of Norfolk Southern by 59.9% in the 1st quarter. KBC Group NV now owns 30,435 shares of the railroad operator’s stock worth $8,735,000 after purchasing an additional 11,396 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Norfolk Southern from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Jefferies Financial Group decreased their price objective on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Citigroup raised their price objective on shares of Norfolk Southern from $335.00 to $351.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Robert W. Baird lifted their target price on shares of Norfolk Southern from $330.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Finally, Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $329.35.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $335.11 on Tuesday. The business has a fifty day moving average of $315.26 and a 200-day moving average of $304.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $342.53. The firm has a market cap of $75.26 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 6.22 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company earned $2.69 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts predict that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio is presently 45.49%.

Norfolk Southern Profile

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.