Huntington National Bank Sells 261 Shares of Norfolk Southern Corporation $NSC

Huntington National Bank lowered its stake in Norfolk Southern Corporation (NYSE:NSC) by 1.1% in the 2nd quarter, Holdings Channel reports. The firm owned 23,025 shares of the railroad operator’s stock after selling 261 shares during the quarter. Huntington National Bank’s holdings in Norfolk Southern were worth $5,894,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new position in Norfolk Southern in the 1st quarter worth about $27,000. Financial Gravity Asset Management Inc. bought a new position in Norfolk Southern in the 1st quarter worth about $41,000. Pinnacle Bancorp Inc. boosted its stake in Norfolk Southern by 30.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after purchasing an additional 43 shares during the period. Chung Wu Investment Group LLC bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $51,000. Finally, RMG Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $56,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $283.99 on Wednesday. The business has a 50 day moving average of $285.80 and a 200 day moving average of $266.31. The company has a market capitalization of $63.72 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.25 EPS. On average, sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be given a $1.35 dividend. The ex-dividend date is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s payout ratio is presently 41.19%.

Insiders Place Their Bets

In related news, Director Richard H. Anderson acquired 2,600 shares of the stock in a transaction on Monday, October 27th. The stock was purchased at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at $1,973,020. This trade represents a 59.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays lifted their price target on Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Susquehanna lifted their price target on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Loop Capital lifted their price target on Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research report on Tuesday, September 16th. UBS Group reduced their target price on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Finally, Robert W. Baird increased their target price on Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $299.70.

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.