Norfolk Southern Co. (NYSE:NSC) Shares Bought by Somerset Trust Co

Somerset Trust Co raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 17,396 shares of the railroad operator’s stock after acquiring an additional 692 shares during the period. Norfolk Southern accounts for about 1.5% of Somerset Trust Co’s holdings, making the stock its 25th biggest position. Somerset Trust Co’s holdings in Norfolk Southern were worth $4,120,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL increased its stake in shares of Norfolk Southern by 16.9% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock valued at $71,000 after purchasing an additional 44 shares during the period. CoreCap Advisors LLC increased its stake in shares of Norfolk Southern by 1.5% in the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock valued at $727,000 after purchasing an additional 45 shares during the period. Leavell Investment Management Inc. increased its stake in shares of Norfolk Southern by 0.9% in the fourth quarter. Leavell Investment Management Inc. now owns 5,816 shares of the railroad operator’s stock valued at $1,365,000 after purchasing an additional 50 shares during the period. Shayne & Jacobs LLC increased its stake in shares of Norfolk Southern by 1.5% in the fourth quarter. Shayne & Jacobs LLC now owns 3,327 shares of the railroad operator’s stock valued at $781,000 after purchasing an additional 50 shares during the period. Finally, Malaga Cove Capital LLC increased its stake in shares of Norfolk Southern by 2.1% in the fourth quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator’s stock valued at $575,000 after purchasing an additional 50 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 0.3%

Shares of NYSE:NSC opened at $247.11 on Friday. The stock has a market capitalization of $55.71 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 1-year low of $201.63 and a 1-year high of $277.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The company has a 50 day moving average price of $228.16 and a 200 day moving average price of $241.28.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business posted $2.49 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, May 2nd. Norfolk Southern’s dividend payout ratio is 36.89%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NSC shares. Royal Bank of Canada lowered their price objective on shares of Norfolk Southern from $271.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Citigroup lowered their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Barclays lowered their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. UBS Group raised their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company lowered their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.70.

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.