Glenview Trust co Reduces Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Glenview Trust co reduced its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 64,341 shares of the railroad operator's stock after selling 33,412 shares during the quarter. Glenview Trust co's holdings in Norfolk Southern were worth $15,101,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Financial Life Planners acquired a new position in Norfolk Southern in the 4th quarter valued at about $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Norfolk Southern in the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new stake in Norfolk Southern during the 4th quarter worth approximately $28,000. Finally, Morse Asset Management Inc acquired a new stake in Norfolk Southern during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the firm's stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company's stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.19% of the company's stock.

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Norfolk Southern Stock Performance

NSC stock traded down $1.22 during trading on Thursday, hitting $233.45. The company had a trading volume of 959,337 shares, compared to its average volume of 1,160,962. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a 50-day moving average price of $246.14 and a 200-day moving average price of $250.14. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The firm has a market cap of $52.86 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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%. On average, analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.31%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NSC. Loop Capital lowered Norfolk Southern from a "buy" rating to a "hold" rating and cut their price objective for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Wells Fargo & Company lowered their target price on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada increased their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Stephens boosted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of "Moderate Buy" and a consensus target price of $276.95.

Norfolk Southern Company 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.