Washington Trust Bank cut its stake in Norfolk Southern Corp. (NYSE:NSC) by 16.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,610 shares of the railroad operator’s stock after selling 525 shares during the period. Washington Trust Bank’s holdings in Norfolk Southern were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bruderman Asset Management LLC acquired a new position in shares of Norfolk Southern in the fourth quarter valued at about $26,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of Norfolk Southern in the fourth quarter valued at about $27,000. Moody National Bank Trust Division acquired a new position in shares of Norfolk Southern in the fourth quarter valued at about $31,000. Pinnacle Bank acquired a new position in shares of Norfolk Southern in the fourth quarter valued at about $33,000. Finally, PRW Wealth Management LLC acquired a new position in shares of Norfolk Southern in the fourth quarter valued at about $36,000. 74.39% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on NSC shares. Zacks Investment Research downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. TD Securities upped their price target on shares of Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 12th. Citigroup upped their price target on shares of Norfolk Southern from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Credit Suisse Group decreased their price target on shares of Norfolk Southern from $187.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, January 7th. Finally, Argus restated a “buy” rating on shares of Norfolk Southern in a research note on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $190.47.

In other news, VP Jason Andrew Zampi sold 519 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $181.34, for a total value of $94,115.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Michael Joseph Wheeler sold 4,761 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $180.23, for a total transaction of $858,075.03. Following the completion of the sale, the chief operating officer now owns 19,724 shares in the company, valued at $3,554,856.52. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Shares of Norfolk Southern stock opened at $192.75 on Wednesday. The stock has a market cap of $51.55 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.64 and a beta of 1.43. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.64 and a current ratio of 0.72. Norfolk Southern Corp. has a 12-month low of $129.00 and a 12-month high of $194.63.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 24th. The railroad operator reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.27. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.85 billion. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.69 earnings per share. On average, analysts predict that Norfolk Southern Corp. will post 10.39 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 4th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.78%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, February 1st. Norfolk Southern’s dividend payout ratio is presently 36.17%.

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About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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