Glenview Trust Co Reduces Stock Holdings in Norfolk Southern Corporation $NSC

Key Points

• Glenview Trust Co cut its Norfolk Southern stake by 7.7% in the fourth quarter, selling 3,347 shares and ending with 40,290 shares valued at about $11.63 million.
• Wall Street sentiment remains cautious: analysts currently have a consensus “Hold” rating on NSC with an average price target of $319.83, though several firms recently adjusted targets upward or downward.
• Norfolk Southern reported Q1 earnings of $2.65 per share, beating estimates, while revenue came in below expectations; the company also paid a $1.35 quarterly dividend, equal to a 1.7% annual yield.

Glenview Trust Co decreased its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,290 shares of the railroad operator's stock after selling 3,347 shares during the quarter. Glenview Trust Co's holdings in Norfolk Southern were worth $11,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NSC. Brighton Jones LLC boosted its holdings in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock worth $1,527,000 after purchasing an additional 1,855 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Norfolk Southern in the second quarter worth approximately $327,000. Schnieders Capital Management LLC. raised its holdings in shares of Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock worth $1,094,000 after buying an additional 1,670 shares during the period. Finally, Jump Financial LLC raised its holdings in shares of Norfolk Southern by 185.1% in the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $1,174,000 after buying an additional 2,979 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NSC. Jefferies Financial Group reduced their price target on Norfolk Southern from $350.00 to $310.00 and set a "hold" rating on the stock in a report on Monday, April 6th. Royal Bank Of Canada increased their price target on Norfolk Southern from $310.00 to $360.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. Rothschild & Co Redburn increased their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Norfolk Southern from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Robert W. Baird increased their price target on Norfolk Southern from $315.00 to $330.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and a consensus price target of $319.83.

Norfolk Southern Trading Down 0.3%

Shares of NYSE:NSC opened at $313.72 on Monday. Norfolk Southern Corporation has a 12-month low of $236.37 and a 12-month high of $323.37. The business's fifty day simple moving average is $300.62 and its 200-day simple moving average is $297.29. The company has a market capitalization of $70.46 billion, a PE ratio of 26.43, a P/E/G ratio of 5.81 and a beta of 1.30. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the business posted $2.69 EPS. The business's revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern's dividend payout ratio (DPR) is currently 45.49%.

About Norfolk Southern

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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