Community Bank N.A. Reduces Stock Position in Norfolk Southern Co. (NYSE:NSC)

Community Bank N.A. lowered its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 2.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,621 shares of the railroad operator’s stock after selling 200 shares during the quarter. Community Bank N.A.’s holdings in Norfolk Southern were worth $2,274,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NSC. American Century Companies Inc. boosted its holdings in Norfolk Southern by 69.0% during the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after acquiring an additional 1,112,261 shares during the period. London Co. of Virginia lifted its holdings in shares of Norfolk Southern by 41.2% in the 3rd quarter. London Co. of Virginia now owns 1,976,871 shares of the railroad operator’s stock worth $389,305,000 after buying an additional 577,171 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth $103,223,000. International Assets Investment Management LLC lifted its holdings in shares of Norfolk Southern by 23,585.8% in the 4th quarter. International Assets Investment Management LLC now owns 351,261 shares of the railroad operator’s stock worth $83,031,000 after buying an additional 349,778 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of Norfolk Southern by 3.2% in the 3rd quarter. Lazard Asset Management LLC now owns 8,629,330 shares of the railroad operator’s stock worth $1,699,371,000 after buying an additional 264,031 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 3.6 %

NYSE:NSC traded down $8.89 during mid-day trading on Wednesday, hitting $236.14. 2,577,851 shares of the company’s stock traded hands, compared to its average volume of 1,281,044. The company has a fifty day moving average of $252.34 and a 200 day moving average of $232.12. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The company has a market capitalization of $58.14 billion, a P/E ratio of 29.44, a P/E/G ratio of 3.34 and a beta of 1.30. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.24.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the company earned $3.42 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts forecast that Norfolk Southern Co. will post 11.93 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is presently 67.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Susquehanna lowered their target price on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Loop Capital upped their target price on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Jefferies Financial Group started coverage on Norfolk Southern in a research report on Monday, April 8th. They issued a “buy” rating and a $300.00 price target for the company. Finally, Barclays raised Norfolk Southern from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $255.00 to $305.00 in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $262.74.

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.