Norfolk Southern Corp. (NYSE:NSC) Shares Bought by Community Bank N.A.

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Community Bank N.A. boosted its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,429 shares of the railroad operator’s stock after buying an additional 1,255 shares during the quarter. Community Bank N.A.’s holdings in Norfolk Southern were worth $1,831,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in shares of Norfolk Southern by 24.0% in the first quarter. Capital World Investors now owns 6,360,248 shares of the railroad operator’s stock worth $928,597,000 after buying an additional 1,230,385 shares in the last quarter. Viking Global Investors LP raised its stake in Norfolk Southern by 183.5% during the first quarter. Viking Global Investors LP now owns 1,767,825 shares of the railroad operator’s stock worth $258,102,000 after purchasing an additional 1,144,243 shares during the period. Franklin Resources Inc. raised its stake in Norfolk Southern by 84.2% during the first quarter. Franklin Resources Inc. now owns 1,855,918 shares of the railroad operator’s stock worth $270,964,000 after purchasing an additional 848,186 shares during the period. Lord Abbett & CO. LLC purchased a new position in Norfolk Southern during the first quarter worth about $64,634,000. Finally, Silver Lake Advisory LLC raised its stake in Norfolk Southern by 16,554.2% during the first quarter. Silver Lake Advisory LLC now owns 445,000 shares of the railroad operator’s stock worth $435,000 after purchasing an additional 442,328 shares during the period. Institutional investors own 67.67% of the company’s stock.

NSC has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed a “sell” rating and set a $140.00 target price on shares of Norfolk Southern in a research note on Sunday, April 12th. TD Securities raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Thursday, July 2nd. Stifel Nicolaus initiated coverage on shares of Norfolk Southern in a research note on Monday, April 6th. They set a “hold” rating and a $163.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $189.00 to $199.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Citigroup lifted their price target on shares of Norfolk Southern from $200.00 to $214.00 and gave the company a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $193.29.

In related news, VP Clyde H. Allison, Jr. sold 1,593 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $192.65, for a total transaction of $306,891.45. Following the completion of the sale, the vice president now owns 41,146 shares of the company’s stock, valued at approximately $7,926,776.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James A. Squires sold 50,797 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $191.48, for a total transaction of $9,726,609.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,388 shares of company stock worth $13,616,926. Insiders own 0.32% of the company’s stock.

NYSE:NSC traded up $3.34 on Friday, reaching $192.21. The stock had a trading volume of 1,746,247 shares, compared to its average volume of 1,422,300. The company has a market cap of $52.02 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 3.32 and a beta of 1.37. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 0.78. The firm’s fifty day moving average is $178.04 and its two-hundred day moving average is $177.16. Norfolk Southern Corp. has a 12-month low of $112.62 and a 12-month high of $219.88.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, July 29th. The railroad operator reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.20. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.06 billion. Norfolk Southern had a net margin of 20.47% and a return on equity of 16.06%. The firm’s quarterly revenue was down 28.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.70 EPS. As a group, research analysts forecast that Norfolk Southern Corp. will post 8.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $3.76 annualized dividend and a dividend yield of 1.96%. Norfolk Southern’s payout ratio is currently 36.36%.

Norfolk Southern Company Profile

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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