First National Bank of Mount Dora Trust Investment Services Buys 293 Shares of Norfolk Southern Co. (NYSE:NSC)

First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 2.3% during the third quarter, Holdings Channel reports. The firm owned 12,880 shares of the railroad operator’s stock after purchasing an additional 293 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Norfolk Southern were worth $3,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Norfolk Southern by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after buying an additional 2,453 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $1,676,000. Dakota Wealth Management increased its position in shares of Norfolk Southern by 2.1% during the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after purchasing an additional 150 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Norfolk Southern in the second quarter worth approximately $13,627,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock traded down $0.83 during mid-day trading on Monday, reaching $249.26. 135,723 shares of the company’s stock traded hands, compared to its average volume of 1,247,950. Norfolk Southern Co. has a 12-month low of $192.53 and a 12-month high of $263.66. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock has a 50 day moving average of $250.38 and a two-hundred day moving average of $237.05. The company has a market cap of $56.39 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.38 and a beta of 1.30.

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

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. Evercore ISI lowered their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Barclays raised their target price on shares of Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research report on Monday, July 8th. Finally, Citigroup raised their price objective on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Insider Buying and Selling

In related news, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Alan H. Shaw sold 51,325 shares of the business’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 owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy purchased 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern 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.