Farmers National Bank Has $4.81 Million Stock Holdings in Norfolk Southern Corporation $NSC

Key Points

• Farmers National Bank reduced its Norfolk Southern stake by 36.1% in the first quarter, selling 9,439 shares and retaining 16,744 shares valued at approximately $4.81 million. Institutional investors and hedge funds collectively own 75.1% of NSC.
• Norfolk Southern reported quarterly EPS of $3.52, surpassing estimates of $3.32, while revenue rose 12.5% year over year to $3.46 billion. Shares recently traded at $335.89, up 0.1%.
• The company declared a quarterly dividend of $1.35 per share, representing a $5.40 annualized payout and a 1.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $348.00.

Farmers National Bank trimmed its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 36.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,744 shares of the railroad operator's stock after selling 9,439 shares during the quarter. Norfolk Southern accounts for 1.1% of Farmers National Bank's holdings, making the stock its 23rd largest holding. Farmers National Bank's holdings in Norfolk Southern were worth $4,806,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NSC. Parallel Advisors LLC increased its stake in shares of Norfolk Southern by 1.9% in the 1st quarter. Parallel Advisors LLC now owns 4,279 shares of the railroad operator's stock valued at $1,228,000 after purchasing an additional 79 shares during the last quarter. Blue Edge Capital LLC lifted its position in shares of Norfolk Southern by 99.3% during the 1st quarter. Blue Edge Capital LLC now owns 2,989 shares of the railroad operator's stock worth $858,000 after buying an additional 1,489 shares during the last quarter. Financial Solutions Advisory Group Inc. bought a new stake in shares of Norfolk Southern during the 1st quarter worth $344,000. Keel Point LLC boosted its stake in Norfolk Southern by 2.4% in the first quarter. Keel Point LLC now owns 7,557 shares of the railroad operator's stock valued at $2,169,000 after buying an additional 176 shares in the last quarter. Finally, Carlson Capital L.P. boosted its stake in Norfolk Southern by 52.6% in the first quarter. Carlson Capital L.P. now owns 8,700 shares of the railroad operator's stock valued at $2,497,000 after buying an additional 3,000 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 0.1%

Shares of NSC stock opened at $335.89 on Monday. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The stock's fifty day simple moving average is $319.64 and its 200 day simple moving average is $308.03. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $75.45 billion, a P/E ratio of 28.66, a P/E/G ratio of 5.97 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company earned $3.29 earnings per share. The business's quarterly revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 12.6 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern's dividend payout ratio is currently 46.08%.

Analyst Ratings Changes

Several brokerages have commented on NSC. Rothschild & Co Redburn boosted their target price on Norfolk Southern from $308.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Benchmark reaffirmed a "hold" rating on shares of Norfolk Southern in a report on Friday, July 24th. BMO Capital Markets lifted their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Finally, Evercore set a $358.00 price objective on shares of Norfolk Southern in a research report on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $348.00.

Norfolk Southern 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.

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