Fiduciary Trust Co Sells 59 Shares of Norfolk Southern Co. (NYSE:NSC)

Fiduciary Trust Co lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,484 shares of the railroad operator’s stock after selling 59 shares during the quarter. Fiduciary Trust Co’s holdings in Norfolk Southern were worth $3,102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lake Street Advisors Group LLC boosted its stake in Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after buying an additional 41 shares in the last quarter. Hall Capital Management Co. Inc. raised its holdings in shares of Norfolk Southern by 2.8% in the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after buying an additional 42 shares during the last quarter. Blue Chip Partners LLC raised its holdings in shares of Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after buying an additional 42 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of Norfolk Southern by 12.4% in the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its holdings in shares of Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after buying an additional 42 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NSC shares. Barclays boosted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Citigroup boosted their price objective on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Loop Capital boosted their price objective on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, UBS Group boosted their price objective on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Price Performance

Shares of NSC opened at $275.38 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The stock has a 50 day simple moving average of $256.07 and a 200 day simple moving average of $241.11. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The firm has a market capitalization of $62.30 billion, a PE ratio of 25.86, a P/E/G ratio of 2.61 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm posted $2.65 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Insiders Place Their Bets

In related news, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $2,550,000. This represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the 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 transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Company 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.