CNB Bank Has $469,000 Stock Position in Norfolk Southern Corporation $NSC

CNB Bank cut its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 11.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,833 shares of the railroad operator’s stock after selling 226 shares during the period. CNB Bank’s holdings in Norfolk Southern were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after purchasing an additional 2,710,930 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Norfolk Southern in the second quarter valued at about $321,393,000. Adage Capital Partners GP L.L.C. lifted its stake in Norfolk Southern by 341.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock valued at $187,100,000 after buying an additional 611,198 shares during the period. Nuveen LLC bought a new position in Norfolk Southern during the first quarter worth about $122,256,000. Finally, Phoenix Financial Ltd. acquired a new position in shares of Norfolk Southern during the 1st quarter worth about $110,209,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NSC has been the subject of several research analyst reports. Robert W. Baird boosted their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Benchmark lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Citigroup decreased their price objective on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Jefferies Financial Group restated a “hold” rating and set a $300.00 target price on shares of Norfolk Southern in a report on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern has an average rating of “Hold” and a consensus price target of $299.70.

Norfolk Southern Trading Down 1.2%

NYSE:NSC opened at $280.29 on Friday. The company has a market cap 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. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24. The business has a 50 day moving average price of $285.78 and a two-hundred day moving average price of $262.19. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11.

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

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio is currently 36.49%.

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.