Norfolk Southern Co. (NYSE:NSC) Shares Sold by CoreFirst Bank & Trust

CoreFirst Bank & Trust lowered its position in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,402 shares of the railroad operator’s stock after selling 1,547 shares during the period. CoreFirst Bank & Trust’s holdings in Norfolk Southern were worth $1,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raleigh Capital Management Inc. grew its position in Norfolk Southern by 4.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after purchasing an additional 40 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of Norfolk Southern by 4.2% during the 4th quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock valued at $240,000 after acquiring an additional 41 shares in the last quarter. Fiduciary Group LLC grew its holdings in shares of Norfolk Southern by 0.4% during the 4th quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock valued at $2,360,000 after acquiring an additional 41 shares in the last quarter. ZWJ Investment Counsel Inc. grew its holdings in shares of Norfolk Southern by 0.6% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock valued at $1,762,000 after acquiring an additional 43 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Norfolk Southern by 2.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock valued at $397,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the acquisition, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the acquisition, the director now directly owns 7,000 shares in the company, valued at approximately $1,534,750. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

NSC stock traded up $1.00 during trading hours on Monday, reaching $220.90. The stock had a trading volume of 764,145 shares, compared to its average volume of 1,314,311. The stock has a market capitalization of $49.90 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.31. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. The stock has a 50-day simple moving average of $232.00 and a 200 day simple moving average of $239.46. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66.

Norfolk Southern (NYSE:NSCGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.32 EPS. Analysts predict that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NSC. The Goldman Sachs Group lifted their price objective 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. Jefferies Financial Group started coverage on shares of Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Benchmark restated a “buy” rating and set a $277.00 price objective on shares of Norfolk Southern in a report on Thursday, April 25th. Finally, TD Cowen boosted their price objective on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.56.

Read Our Latest Analysis on Norfolk Southern

Norfolk Southern Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Co. (NYSE:NSCFree Report).

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

Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.