Norfolk Southern Co. (NYSE:NSC) Shares Sold by Community Bank N.A.

Community Bank N.A. cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 15.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,380 shares of the railroad operator’s stock after selling 1,130 shares during the quarter. Community Bank N.A.’s holdings in Norfolk Southern were worth $1,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new stake in Norfolk Southern in the 2nd quarter valued at approximately $27,000. Coastline Trust Co acquired a new position in Norfolk Southern during the 3rd quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $33,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern in the second quarter valued at approximately $31,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $275.85 on Monday. The stock has a market capitalization of $62.41 billion, a P/E ratio of 25.90, a PEG ratio of 2.62 and a beta of 1.30. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The business’s fifty day moving average price is $256.63 and its 200 day moving average price is $241.57. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business earned $2.65 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays boosted their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein increased their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Benchmark boosted their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada boosted their target price on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given 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 price target of $275.68.

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.