Norfolk Southern Corp. (NYSE:NSC) Shares Purchased by Argent Trust Co

Argent Trust Co boosted its stake in Norfolk Southern Corp. (NYSE:NSC) by 2.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,669 shares of the railroad operator’s stock after purchasing an additional 160 shares during the period. Argent Trust Co’s holdings in Norfolk Southern were worth $828,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its stake in shares of Norfolk Southern by 1.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,588 shares of the railroad operator’s stock worth $502,000 after acquiring an additional 47 shares during the period. Argyle Capital Management Inc. increased its stake in shares of Norfolk Southern by 1.2% during the fourth quarter. Argyle Capital Management Inc. now owns 4,347 shares of the railroad operator’s stock worth $844,000 after acquiring an additional 50 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in shares of Norfolk Southern by 0.4% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 11,277 shares of the railroad operator’s stock worth $2,189,000 after acquiring an additional 50 shares during the period. Cornerstone Advisors Inc. increased its stake in shares of Norfolk Southern by 4.9% during the fourth quarter. Cornerstone Advisors Inc. now owns 1,106 shares of the railroad operator’s stock worth $215,000 after acquiring an additional 52 shares during the period. Finally, Heritage Way Advisors LLC increased its stake in shares of Norfolk Southern by 0.3% during the fourth quarter. Heritage Way Advisors LLC now owns 17,739 shares of the railroad operator’s stock worth $3,444,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 72.51% of the company’s stock.

Shares of NSC traded up $0.91 on Friday, hitting $171.47. 1,133,734 shares of the stock traded hands, compared to its average volume of 1,429,071. The company has a quick ratio of 0.78, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $43.69 billion, a P/E ratio of 18.62, a P/E/G ratio of 2.74 and a beta of 1.38. The stock’s 50 day moving average is $161.52 and its two-hundred day moving average is $181.86. Norfolk Southern Corp. has a 1 year low of $112.62 and a 1 year high of $219.88.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, April 29th. The railroad operator reported $2.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.25 by $0.33. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.57 billion. Norfolk Southern had a net margin of 21.89% and a return on equity of 18.12%. Norfolk Southern’s revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.51 earnings per share. Research analysts forecast that Norfolk Southern Corp. will post 8.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, May 7th. Norfolk Southern’s dividend payout ratio is presently 36.36%.

Several research analysts have weighed in on the stock. Susquehanna Bancshares lowered their target price on shares of Norfolk Southern from $247.00 to $189.00 and set a “positive” rating on the stock in a research report on Wednesday, April 8th. UBS Group increased their price target on shares of Norfolk Southern from $166.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, May 1st. TD Securities increased their price target on shares of Norfolk Southern from $145.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Citigroup increased their price target on shares of Norfolk Southern from $150.00 to $196.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley increased their price target on shares of Norfolk Southern from $116.00 to $122.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $189.73.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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