Private Trust Co. NA Sells 246 Shares of Norfolk Southern Co. (NYSE:NSC)

Private Trust Co. NA lowered its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,171 shares of the railroad operator’s stock after selling 246 shares during the period. Private Trust Co. NA’s holdings in Norfolk Southern were worth $1,285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NSC. Highline Wealth Partners LLC purchased a new position in shares of Norfolk Southern during the third quarter valued at approximately $25,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern in the second quarter worth $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern in the second quarter worth $31,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern in the second quarter worth $31,000. Finally, Coastline Trust Co bought a new position in shares of Norfolk Southern during the third quarter valued at $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 59.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 2.6 %

Shares of NSC stock opened at $275.87 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company has a market cap of $62.41 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.55 and a beta of 1.30. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The firm has a fifty day moving average price of $254.48 and a 200-day moving average price of $240.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the company posted $2.65 earnings per share. Norfolk Southern’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NSC. Evercore ISI dropped their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group increased their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen increased their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Bank of America boosted their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $275.68.

Norfolk Southern Company 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.