Canandaigua National Bank & Trust Co. reduced its stake in Norfolk Southern Corp. (NYSE:NSC) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,306 shares of the railroad operator’s stock after selling 338 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Norfolk Southern Corp. were worth $2,553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Norfolk Southern Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 20,272,445 shares of the railroad operator’s stock worth $1,725,793,000 after buying an additional 478,702 shares during the last quarter. Capital International Investors raised its stake in shares of Norfolk Southern Corp. by 5.6% in the second quarter. Capital International Investors now owns 5,850,200 shares of the railroad operator’s stock worth $498,028,000 after buying an additional 309,700 shares during the last quarter. FMR LLC raised its stake in shares of Norfolk Southern Corp. by 69.8% in the second quarter. FMR LLC now owns 3,901,583 shares of the railroad operator’s stock worth $332,142,000 after buying an additional 1,603,911 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Norfolk Southern Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 3,849,457 shares of the railroad operator’s stock worth $327,704,000 after buying an additional 68,904 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Norfolk Southern Corp. by 35.5% in the second quarter. Bank of New York Mellon Corp now owns 3,628,950 shares of the railroad operator’s stock worth $308,932,000 after buying an additional 951,665 shares during the last quarter. 67.93% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Norfolk Southern Corp. (NYSE:NSC)

Norfolk Southern Corp. (NYSE:NSC) traded down 0.34% during trading on Monday, reaching $103.99. The company had a trading volume of 1,627,147 shares. The firm has a market capitalization of $30.36 billion, a PE ratio of 19.26 and a beta of 1.13. Norfolk Southern Corp. has a 12-month low of $64.51 and a 12-month high of $105.50. The firm’s 50 day moving average price is $97.01 and its 200 day moving average price is $91.07.

Norfolk Southern Corp. (NYSE:NSC) last announced its earnings results on Wednesday, October 26th. The railroad operator reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.10. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.25 billion. Norfolk Southern Corp. had a return on equity of 13.15% and a net margin of 16.27%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 EPS. Equities research analysts forecast that Norfolk Southern Corp. will post $5.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Friday, November 4th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Wednesday, November 2nd. Norfolk Southern Corp.’s dividend payout ratio (DPR) is presently 43.70%.

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A number of analysts recently commented on NSC shares. Argus reaffirmed a “buy” rating on shares of Norfolk Southern Corp. in a research report on Wednesday, August 3rd. Atlantic Securities started coverage on Norfolk Southern Corp. in a research note on Thursday, August 11th. They set a “neutral” rating and a $104.00 price target for the company. Loop Capital reiterated a “hold” rating on shares of Norfolk Southern Corp. in a research note on Friday, September 9th. Barclays PLC cut their price target on Norfolk Southern Corp. from $104.00 to $92.00 and set an “equal weight” rating for the company in a research note on Monday, September 12th. Finally, Citigroup Inc. lifted their price target on Norfolk Southern Corp. from $87.00 to $97.00 and gave the company a “neutral” rating in a research note on Tuesday, September 13th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the stock. Norfolk Southern Corp. presently has an average rating of “Hold” and a consensus price target of $92.65.

In other news, VP Thomas E. Hurlbut sold 2,170 shares of Norfolk Southern Corp. stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $91.21, for a total value of $197,925.70. Following the completion of the transaction, the vice president now directly owns 8,560 shares of the company’s stock, valued at approximately $780,757.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas E. Hurlbut sold 469 shares of Norfolk Southern Corp. stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $103.77, for a total value of $48,668.13. Following the completion of the transaction, the vice president now directly owns 7,041 shares of the company’s stock, valued at $730,644.57. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

About Norfolk Southern Corp.

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

5 Day Chart for NYSE:NSC

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