Norfolk Southern Corp. (NSC) Stake Decreased by United Bank

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United Bank decreased its holdings in Norfolk Southern Corp. (NYSE:NSC) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,336 shares of the railroad operator’s stock after selling 604 shares during the period. United Bank’s holdings in Norfolk Southern were worth $1,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its stake in Norfolk Southern by 41.8% during the second quarter. IFM Investors Pty Ltd now owns 12,747 shares of the railroad operator’s stock valued at $1,923,000 after buying an additional 3,759 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Norfolk Southern by 15.5% during the second quarter. CENTRAL TRUST Co now owns 19,690 shares of the railroad operator’s stock valued at $2,971,000 after buying an additional 2,645 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Norfolk Southern by 16.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,046 shares of the railroad operator’s stock valued at $761,000 after buying an additional 700 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Norfolk Southern by 14.0% during the second quarter. State of Alaska Department of Revenue now owns 44,518 shares of the railroad operator’s stock valued at $6,715,000 after buying an additional 5,470 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in Norfolk Southern by 3.7% during the second quarter. Xact Kapitalforvaltning AB now owns 56,514 shares of the railroad operator’s stock valued at $8,526,000 after buying an additional 2,035 shares during the last quarter. 74.38% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on NSC shares. TD Securities raised Norfolk Southern from a “hold” rating to a “buy” rating in a research note on Thursday, October 25th. They noted that the move was a valuation call. Bank of America increased their price target on Norfolk Southern from $183.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, October 1st. Morgan Stanley set a $113.00 price objective on Norfolk Southern and gave the company a “sell” rating in a research note on Monday, October 22nd. Barclays reaffirmed a “hold” rating and issued a $190.00 price objective on shares of Norfolk Southern in a research note on Wednesday, September 26th. Finally, Stifel Nicolaus set a $180.00 price objective on Norfolk Southern and gave the company a “hold” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. Norfolk Southern presently has a consensus rating of “Hold” and an average target price of $174.40.

In other Norfolk Southern news, Chairman James A. Squires sold 34,077 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $171.73, for a total transaction of $5,852,043.21. Following the transaction, the chairman now directly owns 63,958 shares in the company, valued at approximately $10,983,507.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Cynthia C. Earhart sold 2,370 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $175.09, for a total value of $414,963.30. Following the transaction, the vice president now owns 2,370 shares in the company, valued at $414,963.30. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Shares of NYSE:NSC traded up $3.58 during trading on Wednesday, hitting $170.63. The company had a trading volume of 17,805 shares, compared to its average volume of 2,738,219. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.86 and a quick ratio of 0.75. Norfolk Southern Corp. has a one year low of $125.59 and a one year high of $186.91. The firm has a market capitalization of $45.91 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.52 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.08. Norfolk Southern had a return on equity of 15.12% and a net margin of 52.82%. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts expect that Norfolk Southern Corp. will post 9.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 2nd will be issued a $0.80 dividend. The ex-dividend date is Thursday, November 1st. This represents a $3.20 annualized dividend and a dividend yield of 1.88%. Norfolk Southern’s payout ratio is 48.41%.

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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. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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

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