Peoples Financial Services CORP. Has $754,000 Position in Norfolk Southern Co. (NYSE:NSC)

Peoples Financial Services CORP. reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,033 shares of the railroad operator’s stock after selling 71 shares during the quarter. Peoples Financial Services CORP.’s holdings in Norfolk Southern were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Cedar Wealth Management LLC bought a new position in Norfolk Southern in the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern during the second quarter valued at about $27,000. Rise Advisors LLC bought a new stake in shares of Norfolk Southern during the first quarter worth about $34,000. Financial Connections Group Inc. bought a new position in Norfolk Southern in the 2nd quarter valued at approximately $31,000. Finally, HWG Holdings LP acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $31,000. Institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the acquisition, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on NSC shares. Susquehanna upped their price target on shares of Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Citigroup initiated coverage on Norfolk Southern in a research note on Wednesday, October 9th. They issued a “buy” rating and a $294.00 price target for the company. Benchmark lifted their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 29th. TD Cowen raised their price objective on shares of Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group boosted their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $266.17.

Norfolk Southern Trading Up 1.2 %

Shares of NSC stock traded up $3.05 during mid-day trading on Wednesday, reaching $257.38. The stock had a trading volume of 101,644 shares, compared to its average volume of 1,245,496. The firm has a market capitalization of $58.15 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The stock’s 50-day moving average price is $247.13 and its two-hundred day moving average price is $236.65. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. Norfolk Southern Co. has a 52-week low of $183.09 and a 52-week high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. Norfolk Southern’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 EPS. Equities analysts expect that Norfolk Southern Co. will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

About Norfolk Southern

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.