Trust Co. of Toledo NA OH Lowers Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Trust Co. of Toledo NA OH lessened its position in shares of Norfolk Southern Co. (NYSE:NSC) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,835 shares of the railroad operator’s stock after selling 179 shares during the period. Norfolk Southern makes up about 0.9% of Trust Co. of Toledo NA OH’s holdings, making the stock its 28th biggest position. Trust Co. of Toledo NA OH’s holdings in Norfolk Southern were worth $7,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NSC. Mizuho Securities USA LLC lifted its holdings in shares of Norfolk Southern by 18,831.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after acquiring an additional 3,280,579 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares in the last quarter. FMR LLC increased its position in shares of Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Norfolk Southern in the 3rd quarter worth approximately $207,830,000. Finally, Holocene Advisors LP purchased a new stake in Norfolk Southern in the third quarter worth approximately $122,798,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NSC shares. Evercore ISI lowered their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Stephens reaffirmed an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Citigroup boosted their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Bank of America raised their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus target price of $275.68.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC traded up $2.27 during mid-day trading on Monday, reaching $236.21. The company had a trading volume of 202,065 shares, compared to its average volume of 852,994. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The stock has a market capitalization of $53.44 billion, a P/E ratio of 22.18, a PEG ratio of 2.34 and a beta of 1.34. The stock has a 50 day moving average of $253.27 and a two-hundred day moving average of $245.86. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the firm posted $2.65 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

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.