Canandaigua National Bank & Trust Co. Buys Shares of 17,873 Norfolk Southern Corporation $NSC

Canandaigua National Bank & Trust Co. bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,873 shares of the railroad operator’s stock, valued at approximately $5,623,000.

Several other institutional investors also recently modified their holdings of NSC. Moss Adams Wealth Advisors LLC raised its stake in shares of Norfolk Southern by 4.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after buying an additional 35 shares during the last quarter. Confluence Wealth Services Inc. grew its holdings in Norfolk Southern by 1.1% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock worth $892,000 after acquiring an additional 35 shares during the period. Exencial Wealth Advisors LLC grew its holdings in Norfolk Southern by 1.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after acquiring an additional 35 shares during the period. Sovereign Financial Group Inc. raised its position in shares of Norfolk Southern by 3.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after acquiring an additional 35 shares during the last quarter. Finally, Bar Harbor Wealth Management raised its position in shares of Norfolk Southern by 0.6% during the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock valued at $1,805,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 1.4%

Shares of NYSE NSC opened at $341.49 on Wednesday. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The stock has a market cap of $76.70 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 5.99 and a beta of 1.27. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average is $320.52 and its 200-day moving average is $308.76.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 EPS. Equities research analysts predict that Norfolk Southern Corporation will post 12.6 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s dividend payout ratio is 46.08%.

Analysts Set New Price Targets

NSC has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. UBS Group reiterated a “neutral” rating and issued a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. raised their target price on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Citigroup boosted their target price on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $348.00.

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.