Norfolk Southern Corporation $NSC Shares Sold by Glenview Trust Co

Glenview Trust Co reduced its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,290 shares of the railroad operator’s stock after selling 3,347 shares during the period. Glenview Trust Co’s holdings in Norfolk Southern were worth $11,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter valued at approximately $25,000. Westside Investment Management Inc. grew its position in Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after purchasing an additional 58 shares during the last quarter. BNP Paribas acquired a new position in Norfolk Southern during the 2nd quarter valued at approximately $26,000. GoalVest Advisory LLC increased its stake in Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new position in shares of Norfolk Southern in the third quarter worth $28,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on NSC. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. UBS Group set a $327.00 target price on Norfolk Southern in a research note on Thursday, May 7th. Susquehanna lifted their price target on Norfolk Southern from $305.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Finally, Argus raised Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $319.83.

Norfolk Southern Stock Down 0.3%

Shares of NSC stock opened at $313.72 on Monday. The stock’s 50-day simple moving average is $300.62 and its 200-day simple moving average is $297.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The firm has a market capitalization of $70.46 billion, a PE ratio of 26.43, a P/E/G ratio of 5.81 and a beta of 1.30. Norfolk Southern Corporation has a fifty-two week low of $236.37 and a fifty-two week high of $323.37.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $2.69 earnings per share. Equities analysts expect that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio is currently 45.49%.

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.