Kentucky Trust Co Invests $2.31 Million in Norfolk Southern Co. (NYSE:NSC)

Kentucky Trust Co bought a new position in shares of Norfolk Southern Co. (NYSE:NSC) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 9,837 shares of the railroad operator’s stock, valued at approximately $2,309,000. Norfolk Southern makes up 1.4% of Kentucky Trust Co’s holdings, making the stock its 26th largest holding.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Norfolk Southern by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after buying an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after purchasing an additional 2,453 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Norfolk Southern by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after purchasing an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Norfolk Southern by 25,181.8% during 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 in the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $1,796,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $256.53 on Wednesday. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The business’s fifty day simple moving average is $246.13 and its 200-day simple moving average is $250.24. The firm has a market cap of $58.04 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Equities analysts forecast that Norfolk Southern Co. will post 13.02 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Friday, February 7th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price target for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Bank of America boosted their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Benchmark reiterated a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Susquehanna dropped their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Insider Buying and Selling

In related news, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. 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.