Norfolk Southern Corp. (NYSE:NSC) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lowered its position in Norfolk Southern Corp. (NYSE:NSC) by 10.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,541 shares of the railroad operator’s stock after selling 309 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Norfolk Southern were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $26,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $35,000. Vigilant Capital Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at approximately $36,000. AGF Investments LLC increased its stake in shares of Norfolk Southern by 173.5% in the second quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Norfolk Southern by 7,100.0% in the third quarter. Larson Financial Group LLC now owns 216 shares of the railroad operator’s stock valued at $39,000 after purchasing an additional 213 shares during the period. Institutional investors own 72.95% of the company’s stock.

Several brokerages have commented on NSC. BMO Capital Markets dropped their price target on shares of Norfolk Southern from $200.00 to $195.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Barclays decreased their price objective on shares of Norfolk Southern from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. UBS Group decreased their price objective on shares of Norfolk Southern from $230.00 to $216.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Zacks Investment Research upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating and set a $182.00 price objective for the company in a report on Friday, October 11th. Finally, Bank of America cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $198.00 price objective for the company. in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $204.29.

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NYSE:NSC traded down $0.14 during trading hours on Friday, reaching $195.44. 888,465 shares of the company’s stock were exchanged, compared to its average volume of 1,670,462. The company has a market capitalization of $50.53 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.73. The business’s 50-day simple moving average is $181.90 and its two-hundred day simple moving average is $189.20.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 23rd. The railroad operator reported $2.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.57 by ($0.08). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.86 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 23.98%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.52 earnings per share. As a group, sell-side analysts anticipate that Norfolk Southern Corp. will post 10.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 1st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, October 31st. Norfolk Southern’s payout ratio is 39.54%.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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