Glenview Trust co Sells 33,412 Shares of Norfolk Southern Co. (NYSE:NSC)

Glenview Trust co decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 34.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 64,341 shares of the railroad operator’s stock after selling 33,412 shares during the period. Glenview Trust co’s holdings in Norfolk Southern were worth $15,101,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. State Street Corp increased its holdings in Norfolk Southern by 2.1% in the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock valued at $2,318,716,000 after purchasing an additional 196,249 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Norfolk Southern by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after buying an additional 62,186 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Norfolk Southern by 2.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock valued at $967,340,000 after acquiring an additional 103,281 shares during the last quarter. Mizuho Securities USA LLC raised its position in shares of Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after acquiring an additional 3,280,579 shares during the period. Finally, FMR LLC boosted its stake in Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after acquiring an additional 881,415 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NSC shares. Robert W. Baird upped their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.95.

Norfolk Southern Trading Up 2.2 %

Norfolk Southern stock opened at $232.75 on Friday. The company has a market cap of $52.70 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 2.31 and a beta of 1.35. The firm has a 50-day moving average of $246.30 and a 200-day moving average of $250.52. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, equities analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern 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.