Glenview Trust Co Makes New $11.49 Million Investment in Norfolk Southern Corporation $NSC

Glenview Trust Co bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, HoldingsChannel reports. The institutional investor bought 36,527 shares of the railroad operator’s stock, valued at approximately $11,491,000.

Several other hedge funds also recently modified their holdings of NSC. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in Norfolk Southern in the third quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in Norfolk Southern in the second quarter valued at approximately $27,000. Comprehensive Financial Planning Inc. PA bought a new position in Norfolk Southern in the second quarter valued at approximately $31,000. Finally, BNP Paribas bought a new position in Norfolk Southern in the second quarter valued at approximately $26,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.5%

Shares of NYSE:NSC opened at $347.32 on Friday. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The company has a market capitalization of $78.01 billion, a PE ratio of 29.63, a PEG ratio of 5.29 and a beta of 1.27. The company has a 50 day moving average price of $331.90 and a two-hundred day moving average price of $314.78.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm posted $3.29 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts forecast that Norfolk Southern Corporation will post 12.74 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Analysts Set New Price Targets

NSC has been the subject of several recent research reports. BMO Capital Markets upped their target price on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. TD Cowen raised their price target on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Susquehanna lifted their price objective on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Stephens upgraded Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Finally, Robert W. Baird increased their target price on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.