Exchange Bank Has $1.34 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Exchange Bank trimmed its position in Norfolk Southern Co. (NYSE:NSC) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,656 shares of the railroad operator’s stock after selling 150 shares during the quarter. Norfolk Southern accounts for 1.1% of Exchange Bank’s holdings, making the stock its 28th biggest holding. Exchange Bank’s holdings in Norfolk Southern were worth $1,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Norfolk Southern by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator’s stock worth $1,098,472,000 after purchasing an additional 113,648 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock worth $1,333,000 after purchasing an additional 128 shares in the last quarter. Hoge Financial Services LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter worth $238,000. Members Trust Co grew its holdings in shares of Norfolk Southern by 64.0% during the 4th quarter. Members Trust Co now owns 2,575 shares of the railroad operator’s stock worth $604,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Ingalls & Snyder LLC grew its holdings in shares of Norfolk Southern by 2.3% during the 4th quarter. Ingalls & Snyder LLC now owns 51,647 shares of the railroad operator’s stock worth $12,122,000 after purchasing an additional 1,148 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Trading Down 0.6%

NYSE NSC opened at $251.39 on Thursday. The business has a 50 day simple moving average of $231.12 and a 200 day simple moving average of $240.48. Norfolk Southern Co. has a one year low of $201.63 and a one year high of $277.60. The stock has a market capitalization of $56.67 billion, a P/E ratio of 21.75, a P/E/G ratio of 2.31 and a beta of 1.32. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

Norfolk Southern (NYSE:NSC) last announced 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 net margin of 21.63% and a return on equity of 20.04%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the business posted $2.49 EPS. The company’s revenue was down .4% on a year-over-year basis. Research analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.89%.

Analyst Ratings Changes

Several research firms have recently issued reports on NSC. Royal Bank of Canada reduced their target price on Norfolk Southern from $271.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. UBS Group raised their price objective on Norfolk Southern from $275.00 to $279.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Evercore ISI reduced their price objective on Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup reduced their price objective on Norfolk Southern from $298.00 to $259.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.