Indiana Trust & Investment Management Co Decreases Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

by · The Cerbat Gem

Indiana Trust & Investment Management Co lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,412 shares of the railroad operator’s stock after selling 65 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Norfolk Southern were worth $351,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Congress Asset Management Co. MA bought a new position in Norfolk Southern in the fourth quarter valued at about $213,000. MONECO Advisors LLC bought a new stake in Norfolk Southern during the fourth quarter valued at approximately $210,000. Nomura Holdings Inc. bought a new position in Norfolk Southern in the fourth quarter worth approximately $1,077,000. CWM LLC boosted its stake in shares of Norfolk Southern by 25.7% during the 1st quarter. CWM LLC now owns 7,603 shares of the railroad operator’s stock worth $1,938,000 after acquiring an additional 1,554 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Norfolk Southern by 6.8% during the 1st quarter. GAMMA Investing LLC now owns 1,423 shares of the railroad operator’s stock valued at $363,000 after acquiring an additional 90 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 0.7 %

Norfolk Southern stock traded up $1.77 during trading hours on Wednesday, hitting $256.10. The company had a trading volume of 231,815 shares, compared to its average volume of 1,246,088. The firm has a market cap of $57.86 billion, a P/E ratio of 41.33, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a 50-day moving average price of $247.13 and a two-hundred day moving average price of $236.65. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

Norfolk Southern (NYSE:NSC – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping the consensus estimate of $2.86 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. Norfolk Southern’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $2.95 EPS. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 11.79 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NSC shares. Sanford C. Bernstein increased their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Evercore ISI raised their price target on Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Susquehanna upped their price objective on Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. TD Cowen increased their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.17.

View Our Latest Analysis on Norfolk Southern

Insider Transactions at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Company Profile

(Free Report)

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.

Further Reading

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