Canandaigua National Trust Co of Florida Has $226,000 Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Canandaigua National Trust Co of Florida boosted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 4.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 956 shares of the railroad operator’s stock after buying an additional 45 shares during the period. Canandaigua National Trust Co of Florida’s holdings in Norfolk Southern were worth $226,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NSC. Brighton Jones LLC raised its holdings in shares of Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares during the last quarter. Kovack Advisors Inc. grew its stake in shares of Norfolk Southern by 35.0% in the fourth quarter. Kovack Advisors Inc. now owns 1,544 shares of the railroad operator’s stock valued at $362,000 after buying an additional 400 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Norfolk Southern by 25.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 14,312 shares of the railroad operator’s stock valued at $3,359,000 after buying an additional 2,862 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Norfolk Southern in the fourth quarter valued at $624,000. Finally, Fisher Asset Management LLC grew its stake in shares of Norfolk Southern by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 974,264 shares of the railroad operator’s stock valued at $228,660,000 after buying an additional 10,448 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NSC. BMO Capital Markets reissued a “market perform” rating and issued a $255.00 target price on shares of Norfolk Southern in a research note on Thursday, April 24th. Bank of America lifted their price objective on shares of Norfolk Southern from $267.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Citigroup reduced their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Barclays reduced their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. 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 research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.71.

Norfolk Southern Stock Up 0.1%

Shares of NYSE NSC opened at $255.89 on Monday. The stock has a 50-day moving average price of $240.14 and a two-hundred day moving average price of $239.08. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $277.60. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. The company has a market cap of $57.69 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.01 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 (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. 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 company earned $2.49 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 36.89%.

About Norfolk Southern

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.