Norfolk Southern Co. (NYSE:NSC) Position Reduced by Rockland Trust Co.

Rockland Trust Co. lowered its stake in Norfolk Southern Co. (NYSE:NSC) by 20.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,059 shares of the railroad operator’s stock after selling 523 shares during the period. Rockland Trust Co.’s holdings in Norfolk Southern were worth $483,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Mizuho Securities USA LLC increased its holdings in shares of Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after acquiring an additional 3,280,579 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings 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 period. FMR LLC increased its stake in Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth $207,830,000. Finally, Holocene Advisors LP bought a new position in shares of Norfolk Southern in the 3rd quarter worth about $122,798,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.5 %

Shares of NSC stock opened at $240.55 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The stock has a market cap of $54.42 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34. The business’s fifty day moving average is $252.80 and its 200-day moving average is $246.23. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60.

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

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Wall Street Analyst Weigh In

NSC has been the subject of several recent research reports. Stephens reaffirmed an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a report on Wednesday, October 23rd. Loop Capital upped their price objective on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus raised their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. TD Cowen upped their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Insider Buying and Selling

In related news, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Company 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.