Thomasville National Bank boosted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 13.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,578 shares of the railroad operator’s stock after acquiring an additional 424 shares during the period. Thomasville National Bank’s holdings in Norfolk Southern were worth $523,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Clear Perspectives Financial Planning LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at approximately $30,000. Vantage Consulting Group Inc acquired a new stake in Norfolk Southern in the fourth quarter valued at approximately $31,000. Norway Savings Bank raised its holdings in Norfolk Southern by 416.7% in the fourth quarter. Norway Savings Bank now owns 155 shares of the railroad operator’s stock valued at $37,000 after acquiring an additional 125 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at approximately $38,000. Finally, Advisory Alpha LLC acquired a new stake in Norfolk Southern in the third quarter valued at approximately $41,000. 67.25% of the stock is owned by institutional investors and hedge funds.
Shares of NSC stock opened at $271.48 on Thursday. The stock has a 50-day simple moving average of $261.21 and a 200 day simple moving average of $240.01. Norfolk Southern Co. has a fifty-two week low of $147.37 and a fifty-two week high of $276.15. The stock has a market capitalization of $73.91 billion, a P/E ratio of 34.94, a P/E/G ratio of 3.09 and a beta of 1.38. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.85.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Friday, February 5th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, February 4th. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.94. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.46%. Norfolk Southern’s dividend payout ratio (DPR) is 38.30%.
In other Norfolk Southern news, EVP Ann A. Adams sold 2,460 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $255.00, for a total value of $627,300.00. Following the sale, the executive vice president now owns 9,601 shares of the company’s stock, valued at approximately $2,448,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann A. Adams sold 1,417 shares of the firm’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $239.00, for a total value of $338,663.00. Following the completion of the sale, the executive vice president now directly owns 8,710 shares in the company, valued at approximately $2,081,690. The disclosure for this sale can be found here. Insiders have sold a total of 4,147 shares of company stock valued at $1,030,541 over the last ninety days. Company insiders own 0.32% of the company’s stock.
NSC has been the topic of a number of research analyst reports. Cowen raised their price objective on shares of Norfolk Southern from $224.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Robert W. Baird upgraded shares of Norfolk Southern from a “neutral” rating to an “outperform” rating and set a $286.00 target price on the stock in a research report on Tuesday, January 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Norfolk Southern from $250.00 to $290.00 in a research report on Monday, January 11th. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $220.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, January 28th. Finally, Argus lifted their price objective on shares of Norfolk Southern from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Norfolk Southern has an average rating of “Buy” and a consensus target price of $238.57.
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 industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.
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