Norfolk Southern Co. (NYSE:NSC) Stock Position Lessened by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 16,771 shares of the railroad operator’s stock after selling 46 shares during the quarter. Norfolk Southern makes up 1.6% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 23rd largest holding. OLD Point Trust & Financial Services N A’s holdings in Norfolk Southern were worth $3,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of NSC. Norges Bank bought a new position in shares of Norfolk Southern in the fourth quarter worth $556,797,000. American Century Companies Inc. grew its stake in shares of Norfolk Southern by 69.0% in the third quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock worth $536,319,000 after purchasing an additional 1,112,261 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Norfolk Southern by 600.3% in the fourth quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock worth $241,421,000 after purchasing an additional 875,473 shares in the last quarter. London Co. of Virginia lifted its holdings in shares of Norfolk Southern by 41.2% in 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 lifted its holdings in shares of Norfolk Southern by 1,956.8% in 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. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 0.3 %

NYSE NSC traded down $0.63 during trading on Friday, reaching $224.07. 781,452 shares of the company’s stock were exchanged, compared to its average volume of 1,186,169. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company’s fifty day simple moving average is $235.33 and its 200-day simple moving average is $238.94. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $50.62 billion, a PE ratio of 36.08, a P/E/G ratio of 2.12 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results 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). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the business earned $3.32 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Sell-side analysts predict that Norfolk Southern Co. will post 11.88 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a report on Friday, April 12th. Susquehanna cut their price objective on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Barclays cut their price objective on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Loop Capital upped their target price on Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Jefferies Financial Group began coverage on Norfolk Southern in a research report on Monday, April 8th. They issued a “buy” rating and a $300.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average price target of $264.56.

Insider Activity at Norfolk Southern

In other news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Claude Mongeau purchased 5,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $4,420,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

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.