Norfolk Southern Corporation $NSC Shares Sold by US Bancorp DE

US Bancorp DE decreased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,887 shares of the railroad operator’s stock after selling 4,017 shares during the quarter. US Bancorp DE’s holdings in Norfolk Southern were worth $53,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp grew its position in shares of Norfolk Southern by 13,000.0% in the 3rd quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock valued at $1,102,000 after buying an additional 3,640 shares during the last quarter. Cullen Capital Management LLC boosted its stake in Norfolk Southern by 31.8% in the third quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock valued at $36,455,000 after acquiring an additional 29,264 shares in the last quarter. Markel Group Inc. boosted its stake in Norfolk Southern by 8.5% in the third quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock valued at $77,055,000 after acquiring an additional 20,000 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Norfolk Southern during the third quarter worth about $2,165,000. Finally, First Horizon Corp acquired a new stake in shares of Norfolk Southern during the third quarter worth about $565,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price target on the stock. in a research note on Friday, February 6th. Wolfe Research raised their target price on shares of Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Zacks Research downgraded shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 19th. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Finally, Sanford C. Bernstein reduced their target price on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $304.47.

Insider Buying and Selling

In related news, Director William Jr. Clyburn bought 204 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were bought at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the transaction, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. This trade represents a 101.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.06% of the company’s stock.

Norfolk Southern Stock Up 0.4%

Shares of Norfolk Southern stock opened at $313.10 on Friday. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94. The company has a market cap of $70.31 billion, a P/E ratio of 24.56, a PEG ratio of 5.62 and a beta of 1.34. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The firm has a fifty day moving average of $297.50 and a two-hundred day moving average of $290.17.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the business posted $3.04 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is presently 42.35%.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.