Norfolk Southern Co. (NYSE:NSC) Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services reduced its stake in Norfolk Southern Co. (NYSE:NSC) by 83.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,119 shares of the railroad operator’s stock after selling 10,856 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Norfolk Southern were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NSC. Norges Bank acquired a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $547,575,000. GAMMA Investing LLC lifted its stake in Norfolk Southern by 25,555.7% during the first quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator’s stock valued at $234,433,000 after purchasing an additional 985,938 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Norfolk Southern by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator’s stock valued at $2,020,318,000 after purchasing an additional 918,559 shares during the last quarter. Boston Partners lifted its stake in Norfolk Southern by 16.9% during the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock valued at $945,385,000 after purchasing an additional 580,293 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Norfolk Southern by 293.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator’s stock valued at $157,643,000 after purchasing an additional 501,053 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of NSC opened at $250.56 on Tuesday. The company’s fifty day moving average is $229.66 and its 200-day moving average is $240.32. Norfolk Southern Co. has a 12 month low of $201.63 and a 12 month high of $277.60. The firm has a market cap of $56.49 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.31 and a beta of 1.32. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the company earned $2.49 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 36.89%.

Wall Street Analyst Weigh In

NSC has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Bank of America increased their target price on shares of Norfolk Southern from $267.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 16th. BMO Capital Markets reissued a “market perform” rating and set a $255.00 target price on shares of Norfolk Southern in a research note on Thursday, April 24th. Barclays cut their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Susquehanna cut their price target on shares of Norfolk Southern from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $267.24.

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.