Glenview Trust co Trims Stake in Norfolk Southern Corporation $NSC

Glenview Trust co lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 19.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 45,142 shares of the railroad operator’s stock after selling 10,624 shares during the quarter. Glenview Trust co’s holdings in Norfolk Southern were worth $11,555,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. BNP Paribas bought a new position in Norfolk Southern in the 2nd quarter worth about $26,000. True Wealth Design LLC grew its holdings in shares of Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after purchasing an additional 89 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Norfolk Southern during the first quarter worth about $27,000. NewSquare Capital LLC increased its position in shares of Norfolk Southern by 58.5% in the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in Norfolk Southern in the second quarter valued at approximately $35,000. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

NSC has been the subject of a number of research reports. Barclays boosted their price target on shares of Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Loop Capital upped their target price on shares of Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a research report on Tuesday, September 16th. Sanford C. Bernstein reduced their target price on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. Finally, TD Cowen cut their price objective on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a report on Friday, October 24th. Six analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $297.90.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $294.41 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market cap of $66.06 billion, a PE ratio of 22.46, a PEG ratio of 2.66 and a beta of 1.32. The company’s fifty day moving average is $288.08 and its 200 day moving average is $276.49. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.25 earnings per share. Research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, November 7th. Norfolk Southern’s payout ratio is 41.19%.

Insider Buying and Selling

In other news, Director William Jr. Clyburn purchased 204 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the acquisition, the director directly owned 405 shares of the company’s stock, valued at $119,389.95. This represents a 101.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Anil Bhatt sold 900 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the sale, the executive vice president directly owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have bought 4,454 shares of company stock worth $1,259,874. Company insiders own 0.06% of the company’s stock.

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.