Trust Co. of Toledo NA OH Sells 250 Shares of Norfolk Southern Co. (NYSE:NSC)

Trust Co. of Toledo NA OH cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,014 shares of the railroad operator’s stock after selling 250 shares during the period. Norfolk Southern comprises approximately 1.0% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 25th largest position. Trust Co. of Toledo NA OH’s holdings in Norfolk Southern were worth $7,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. KBC Group NV raised its position in Norfolk Southern by 16.5% during the 4th quarter. KBC Group NV now owns 20,325 shares of the railroad operator’s stock worth $4,805,000 after purchasing an additional 2,879 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Norfolk Southern by 3.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 198,626 shares of the railroad operator’s stock valued at $46,951,000 after purchasing an additional 6,414 shares during the period. Rafferty Asset Management LLC lifted its position in shares of Norfolk Southern by 4.3% in the 4th quarter. Rafferty Asset Management LLC now owns 22,763 shares of the railroad operator’s stock worth $5,381,000 after purchasing an additional 944 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of Norfolk Southern by 11.4% in the 4th quarter. Peapack Gladstone Financial Corp now owns 9,363 shares of the railroad operator’s stock valued at $2,214,000 after purchasing an additional 959 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Norfolk Southern by 8.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 30,603 shares of the railroad operator’s stock valued at $7,234,000 after acquiring an additional 2,301 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.4 %

NSC stock opened at $247.03 on Thursday. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The stock has a fifty day moving average of $246.35 and a 200-day moving average of $237.19. The company has a market capitalization of $55.81 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Norfolk Southern Co. will post 11.8 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.19%. Norfolk Southern’s payout ratio is 86.96%.

Insider Buying and Selling

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. Evercore ISI raised their price target on shares of Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Benchmark upped their price objective on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 29th. Sanford C. Bernstein decreased their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Finally, Susquehanna upped their price objective on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday. One equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.56.

Norfolk Southern Company Profile

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.