Norfolk Southern Co. (NYSE:NSC) Stock Position Reduced by Trust Co. of Oklahoma

Trust Co. of Oklahoma trimmed its holdings in Norfolk Southern Co. (NYSE:NSC) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,973 shares of the railroad operator’s stock after selling 196 shares during the period. Trust Co. of Oklahoma’s holdings in Norfolk Southern were worth $758,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its holdings in Norfolk Southern by 662.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after buying an additional 106 shares during the period. Orion Capital Management LLC bought a new stake in Norfolk Southern in the 3rd quarter valued at $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in Norfolk Southern in the 4th quarter valued at $32,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern in the 4th quarter valued at $34,000. Finally, Rise Advisors LLC bought a new stake in Norfolk Southern in the 1st quarter valued at $34,000. 75.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Norfolk Southern

In related news, Director Claude Mongeau acquired 5,650 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were purchased at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at $4,420,000. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claude Mongeau bought 5,650 shares of the stock in a transaction on Wednesday, May 29th. The shares were acquired at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Up 0.4 %

Shares of NSC traded up $0.87 during mid-day trading on Wednesday, hitting $216.42. 410,010 shares of the company’s stock were exchanged, compared to its average volume of 1,319,209. The company has a market cap of $48.89 billion, a PE ratio of 34.83, a P/E/G ratio of 2.03 and a beta of 1.32. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a 50-day simple moving average of $225.90 and a 200 day simple moving average of $238.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. Norfolk Southern’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.32 earnings per share. On average, research analysts forecast that Norfolk Southern Co. will post 11.88 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were issued a $1.35 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.50%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Analyst Upgrades and Downgrades

NSC has been the topic of several analyst reports. UBS Group lowered their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus upped their target price 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. TD Cowen upped their target price 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. Wells Fargo & Company decreased their price objective on shares of Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday, June 25th. Finally, Benchmark reissued a “buy” rating and set a $277.00 price objective on shares of Norfolk Southern in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $262.89.

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.