WASHINGTON TRUST Co Has $597,000 Stock Position in Norfolk Southern Co. (NYSE:NSC)

WASHINGTON TRUST Co trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,526 shares of the railroad operator’s stock after selling 51 shares during the period. WASHINGTON TRUST Co’s holdings in Norfolk Southern were worth $597,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Asset Planning Corporation acquired a new position in Norfolk Southern during the 4th quarter worth approximately $209,000. Procyon Advisors LLC lifted its stake in shares of Norfolk Southern by 12.1% in the 4th quarter. Procyon Advisors LLC now owns 2,435 shares of the railroad operator’s stock valued at $576,000 after purchasing an additional 262 shares during the period. IFG Advisory LLC grew its position in shares of Norfolk Southern by 18.3% during the 4th quarter. IFG Advisory LLC now owns 5,435 shares of the railroad operator’s stock worth $1,285,000 after buying an additional 839 shares during the period. Highland Capital Management LLC increased its stake in shares of Norfolk Southern by 0.8% in the 4th quarter. Highland Capital Management LLC now owns 21,672 shares of the railroad operator’s stock valued at $5,123,000 after acquiring an additional 180 shares in the last quarter. Finally, Columbia Trust Co 01012016 boosted its stake in Norfolk Southern by 18.7% during the fourth quarter. Columbia Trust Co 01012016 now owns 3,884 shares of the railroad operator’s stock worth $918,000 after acquiring an additional 613 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock traded up $2.35 during trading hours on Thursday, hitting $254.07. 487,883 shares of the company’s stock were exchanged, compared to its average volume of 1,362,076. The company has a market capitalization of $62.55 billion, a PE ratio of 31.34, a PEG ratio of 3.32 and a beta of 1.30. The business’s 50 day simple moving average is $250.74 and its 200-day simple moving average is $225.12. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, January 26th. The railroad operator reported $2.83 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. Norfolk Southern’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.42 EPS. On average, equities research analysts anticipate that Norfolk Southern Co. will post 12.14 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.13%. Norfolk Southern’s dividend payout ratio (DPR) is currently 67.33%.

Analyst Ratings Changes

NSC has been the topic of several research reports. Morgan Stanley lowered shares of Norfolk Southern from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $185.00 to $175.00 in a report on Monday, January 29th. Royal Bank of Canada reduced their price objective on Norfolk Southern from $215.00 to $207.00 and set a “sector perform” rating for the company in a research note on Monday, January 29th. TD Cowen increased their target price on Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. The Goldman Sachs Group boosted their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Barclays raised shares of Norfolk Southern from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $255.00 to $305.00 in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $252.38.

About Norfolk Southern

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.