Fulton Bank N.A. Sells 1,554 Shares of Norfolk Southern Co. (NYSE:NSC)

Fulton Bank N.A. trimmed its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,627 shares of the railroad operator’s stock after selling 1,554 shares during the period. Fulton Bank N.A.’s holdings in Norfolk Southern were worth $1,555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lake Street Advisors Group LLC grew its position in Norfolk Southern by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after acquiring an additional 41 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its stake in shares of Norfolk Southern by 2.4% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after buying an additional 41 shares during the period. Foster Victor Wealth Advisors LLC raised its holdings in Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after buying an additional 42 shares during the last quarter. Stratos Investment Management LLC boosted its position in Norfolk Southern by 3.8% during the 3rd quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after buying an additional 42 shares during the period. Finally, Archer Investment Corp grew its holdings in Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after acquiring an additional 43 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy acquired 350 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $236.94 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average is $253.87 and its 200 day moving average is $245.36. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a market capitalization of $53.61 billion, a P/E ratio of 22.25, a PEG ratio of 2.34 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company earned $2.65 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date was Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.28%. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NSC shares. TD Cowen increased their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Barclays increased their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Benchmark boosted their target price on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital raised their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $275.68.

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.