Keybank National Association OH Sells 6,560 Shares of Norfolk Southern Corporation $NSC

Keybank National Association OH trimmed its position in Norfolk Southern Corporation (NYSE:NSC) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 113,252 shares of the railroad operator’s stock after selling 6,560 shares during the quarter. Keybank National Association OH’s holdings in Norfolk Southern were worth $34,995,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cornerstone Wealth Management LLC raised its stake in Norfolk Southern by 1.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,055 shares of the railroad operator’s stock valued at $944,000 after buying an additional 38 shares during the period. 71 West Capital Partners lifted its position in shares of Norfolk Southern by 7.4% in the third quarter. 71 West Capital Partners now owns 1,875 shares of the railroad operator’s stock valued at $579,000 after buying an additional 130 shares during the last quarter. Creekside Partners boosted its stake in shares of Norfolk Southern by 59.5% during the 3rd quarter. Creekside Partners now owns 1,568 shares of the railroad operator’s stock worth $485,000 after acquiring an additional 585 shares during the period. Vestor Capital LLC boosted its stake in shares of Norfolk Southern by 1,827.8% during the 3rd quarter. Vestor Capital LLC now owns 16,386 shares of the railroad operator’s stock worth $5,063,000 after acquiring an additional 15,536 shares during the period. Finally, AlphaCore Capital LLC boosted its stake in shares of Norfolk Southern by 76.1% during the 3rd quarter. AlphaCore Capital LLC now owns 2,628 shares of the railroad operator’s stock worth $812,000 after acquiring an additional 1,136 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. TD Cowen raised their price target on Norfolk Southern from $376.00 to $379.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Weiss Ratings raised Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Barclays lifted their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company upped their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $348.81.

Norfolk Southern Stock Up 0.7%

Shares of NSC opened at $330.32 on Thursday. The firm has a market cap of $74.20 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 4.88 and a beta of 1.20. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.90. Norfolk Southern Corporation has a 52 week low of $277.80 and a 52 week high of $358.60. The firm’s 50-day simple moving average is $324.06 and its 200 day simple moving average is $316.69.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.16. Norfolk Southern had a net margin of 20.70% and a return on equity of 18.22%. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the business posted $3.30 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts forecast that Norfolk Southern Corporation will post 12.87 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern’s dividend payout ratio is presently 45.26%.

About Norfolk Southern

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America. The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.