Centennial Bank AR Sells 5,425 Shares of Norfolk Southern Corporation $NSC

Centennial Bank AR lessened its stake in Norfolk Southern Corporation (NYSE:NSC) by 90.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 551 shares of the railroad operator’s stock after selling 5,425 shares during the quarter. Centennial Bank AR’s holdings in Norfolk Southern were worth $166,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NSC. Synovus Financial Corp lifted its holdings in shares of Norfolk Southern by 2.7% during the 3rd quarter. Synovus Financial Corp now owns 30,103 shares of the railroad operator’s stock worth $9,044,000 after acquiring an additional 794 shares during the period. NewEdge Wealth LLC increased its stake in Norfolk Southern by 1.4% in the third quarter. NewEdge Wealth LLC now owns 17,997 shares of the railroad operator’s stock valued at $5,053,000 after acquiring an additional 241 shares during the last quarter. Syon Capital LLC raised its position in Norfolk Southern by 21.8% during the third quarter. Syon Capital LLC now owns 3,711 shares of the railroad operator’s stock valued at $1,115,000 after purchasing an additional 664 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in Norfolk Southern by 0.9% during the third quarter. Jacobi Capital Management LLC now owns 8,265 shares of the railroad operator’s stock worth $2,483,000 after purchasing an additional 72 shares during the last quarter. Finally, 626 Financial LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at $226,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NSC shares. Wolfe Research boosted their price target on Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Citigroup decreased their target price on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Sanford C. Bernstein dropped their target price on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Zacks Research lowered shares of Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and cut their target price for the stock from $354.00 to $297.00 in a research report on Thursday, December 11th. Seven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Norfolk Southern has a consensus rating of “Hold” and an average target price of $304.47.

Norfolk Southern Stock Up 0.3%

Shares of NYSE:NSC opened at $316.94 on Thursday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $319.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The business’s 50-day moving average is $295.20 and its 200-day moving average is $288.81. The company has a market capitalization of $71.17 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 5.62 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the company posted $3.04 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, February 6th. Norfolk Southern’s payout ratio is presently 42.35%.

Insider Transactions at Norfolk Southern

In related news, Director William Jr. Clyburn bought 204 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average cost of $294.79 per share, with a total value of $60,137.16. Following the completion of the purchase, the director directly owned 405 shares in the company, valued at $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.