First National Bank of Mount Dora Trust Investment Services Sells 10,856 Shares of Norfolk Southern Co. (NYSE:NSC)

First National Bank of Mount Dora Trust Investment Services reduced its position in shares of Norfolk Southern Co. (NYSE:NSC) by 83.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,119 shares of the railroad operator’s stock after selling 10,856 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Norfolk Southern were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NSC. Norges Bank bought a new stake in shares of Norfolk Southern during the 4th quarter worth $547,575,000. GAMMA Investing LLC boosted its holdings in Norfolk Southern by 25,555.7% in the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator’s stock valued at $234,433,000 after purchasing an additional 985,938 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Norfolk Southern by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator’s stock valued at $2,020,318,000 after purchasing an additional 918,559 shares during the period. Boston Partners boosted its holdings in Norfolk Southern by 16.9% in the 4th quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock valued at $945,385,000 after purchasing an additional 580,293 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Norfolk Southern by 293.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator’s stock valued at $157,643,000 after purchasing an additional 501,053 shares during the period. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Down 0.1%

Shares of NYSE:NSC opened at $250.56 on Tuesday. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The company has a 50 day moving average of $229.66 and a 200-day moving average of $240.32. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock has a market cap of $56.49 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 2.31 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business earned $2.49 EPS. The firm’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern’s dividend payout ratio is presently 36.89%.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research reports. Barclays reduced their price target on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Stifel Nicolaus reduced their price objective on shares of Norfolk Southern from $265.00 to $247.00 and set a “hold” rating for the company in a report on Monday, April 14th. Evercore ISI reduced their price objective on shares of Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Jefferies Financial Group reduced their price objective on shares of Norfolk Southern from $285.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.24.

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.