CNB Bank Sells 226 Shares of Norfolk Southern Corporation $NSC

CNB Bank reduced its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 11.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,833 shares of the railroad operator’s stock after selling 226 shares during the quarter. CNB Bank’s holdings in Norfolk Southern were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. WPG Advisers LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth about $27,000. Physician Wealth Advisors Inc. lifted its position in Norfolk Southern by 129.2% during the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock worth $35,000 after acquiring an additional 84 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Norfolk Southern during the first quarter worth approximately $41,000. Golden State Wealth Management LLC grew its position in shares of Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the last quarter. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Norfolk Southern by 30.5% during the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after purchasing an additional 43 shares during the period. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Benchmark downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. TD Cowen decreased their price target on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird lifted their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Loop Capital increased their target price on shares of Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a research report on Tuesday, September 16th. Finally, Sanford C. Bernstein lifted their price target on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $299.70.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $280.29 on Friday. The stock has a fifty day moving average of $285.78 and a 200-day moving average of $262.19. The stock has a market capitalization of $62.96 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 2.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 19.13%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.25 earnings per share. On average, sell-side analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be given a $1.35 dividend. The ex-dividend date is Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.49%.

Norfolk Southern 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.