Kentucky Trust Co Acquires Shares of 9,837 Norfolk Southern Co. (NYSE:NSC)

Kentucky Trust Co acquired a new stake in shares of Norfolk Southern Co. (NYSE:NSC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 9,837 shares of the railroad operator’s stock, valued at approximately $2,309,000. Norfolk Southern makes up about 1.4% of Kentucky Trust Co’s holdings, making the stock its 26th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Norfolk Southern by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after buying an additional 8,844 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Norfolk Southern by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after buying an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after buying an additional 889,925 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in Norfolk Southern during the 4th quarter valued at approximately $1,796,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Susquehanna cut their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. TD Cowen raised their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and a consensus target price of $276.11.

Norfolk Southern Stock Up 1.2 %

NYSE:NSC opened at $256.53 on Wednesday. The company has a market cap of $58.04 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The stock has a fifty day simple moving average of $246.13 and a 200-day simple moving average of $250.24.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Analysts anticipate that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.11%. Norfolk Southern’s payout ratio is 46.71%.

Norfolk Southern Profile

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.