Glenview Trust Co Has $10.54 Million Stock Holdings in Norfolk Southern Corporation $NSC

Glenview Trust Co trimmed its holdings in Norfolk Southern Corporation (NYSE:NSC) by 8.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,709 shares of the railroad operator’s stock after selling 3,581 shares during the period. Glenview Trust Co’s holdings in Norfolk Southern were worth $10,535,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock worth $6,012,836,000 after purchasing an additional 272,651 shares in the last quarter. State Street Corp raised its holdings in Norfolk Southern by 4.1% during the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock valued at $2,803,630,000 after buying an additional 379,819 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Norfolk Southern by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after buying an additional 36,205 shares during the last quarter. Norges Bank acquired a new stake in shares of Norfolk Southern in the fourth quarter worth about $1,084,701,000. Finally, Pentwater Capital Management LP boosted its stake in shares of Norfolk Southern by 9.8% during the 4th quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator’s stock worth $871,646,000 after acquiring an additional 269,000 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NSC. Jefferies Financial Group lowered their price objective on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a report on Monday, April 6th. TD Cowen boosted their target price on Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. decreased their target price on Norfolk Southern from $331.00 to $316.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Susquehanna increased their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and a consensus target price of $329.35.

Norfolk Southern Price Performance

Shares of NSC stock opened at $335.11 on Tuesday. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $342.53. The company has a market capitalization of $75.26 billion, a P/E ratio of 28.23, a P/E/G ratio of 6.22 and a beta of 1.27. The stock has a 50 day moving average of $315.26 and a two-hundred day moving average of $304.81. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $2.69 earnings per share. As a group, equities analysts expect that Norfolk Southern Corporation will post 12.24 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is presently 45.49%.

Norfolk Southern Company Profile

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.