UMB Bank n.a. Sells 461 Shares of Norfolk Southern Co. (NYSE:NSC)

UMB Bank n.a. lowered its position in Norfolk Southern Co. (NYSE:NSC) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,857 shares of the railroad operator’s stock after selling 461 shares during the period. UMB Bank n.a.’s holdings in Norfolk Southern were worth $2,946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NSC. Cedar Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $27,000. Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $31,000. HWG Holdings LP purchased a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $31,000. Finally, Rise Advisors LLC purchased a new stake in Norfolk Southern during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. TD Cowen upped their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Evercore ISI upped their target price 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. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $265.94.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Trading Up 0.3 %

Shares of NSC stock opened at $245.91 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The firm has a market cap of $55.60 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The company has a 50-day moving average of $246.51 and a two-hundred day moving average of $236.76. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. Norfolk Southern’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 earnings per share. On average, analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 68.35%.

About Norfolk Southern

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.