Webster Bank N. A. Sells 221 Shares of Norfolk Southern Co. (NYSE:NSC)

Webster Bank N. A. decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 55.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 179 shares of the railroad operator’s stock after selling 221 shares during the quarter. Webster Bank N. A.’s holdings in Norfolk Southern were worth $46,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lazard Asset Management LLC increased its holdings in shares of Norfolk Southern by 3.2% during the 3rd quarter. Lazard Asset Management LLC now owns 8,629,330 shares of the railroad operator’s stock worth $1,699,371,000 after purchasing an additional 264,031 shares during the period. American Century Companies Inc. boosted its position in shares of Norfolk Southern by 69.0% during the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after acquiring an additional 1,112,261 shares in the last quarter. Morgan Stanley boosted its position in shares of Norfolk Southern by 3.2% during the 3rd quarter. Morgan Stanley now owns 2,385,434 shares of the railroad operator’s stock valued at $469,764,000 after acquiring an additional 73,149 shares in the last quarter. Norges Bank acquired a new stake in shares of Norfolk Southern during the 4th quarter valued at about $556,797,000. Finally, London Co. of Virginia boosted its position in shares of Norfolk Southern by 41.2% during the 3rd quarter. London Co. of Virginia now owns 1,976,871 shares of the railroad operator’s stock valued at $389,305,000 after acquiring an additional 577,171 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Loop Capital boosted their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Jefferies Financial Group initiated coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They issued a “buy” rating and a $300.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Finally, Benchmark restated a “buy” rating and issued a $277.00 price target on shares of Norfolk Southern in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $262.89.

Norfolk Southern Trading Up 2.3 %

NYSE:NSC traded up $4.79 during trading hours on Friday, hitting $214.69. The stock had a trading volume of 1,584,755 shares, compared to its average volume of 1,129,521. The company has a market cap of $48.50 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 1.98 and a beta of 1.31. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The business’s 50 day moving average is $227.10 and its 200-day moving average is $238.82.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.32 EPS. Sell-side analysts anticipate that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of Norfolk Southern stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Norfolk Southern news, Director Claude Mongeau bought 5,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average price of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sameh Fahmy purchased 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the purchase, the director now owns 7,000 shares of the company’s stock, valued at $1,534,750. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

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.