Parkside Financial Bank & Trust cut its holdings in Norfolk Southern Corp. (NYSE:NSC) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,541 shares of the railroad operator’s stock after selling 309 shares during the period. Parkside Financial Bank & Trust’s holdings in Norfolk Southern were worth $456,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of NSC. Krane Funds Advisors LLC acquired a new position in Norfolk Southern in the 2nd quarter valued at $26,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at $35,000. Vigilant Capital Management LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter valued at $36,000. AGF Investments LLC grew its stake in shares of Norfolk Southern by 173.5% during the 2nd quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock valued at $37,000 after buying an additional 118 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Norfolk Southern by 7,100.0% during the 3rd quarter. Larson Financial Group LLC now owns 216 shares of the railroad operator’s stock valued at $39,000 after buying an additional 213 shares during the period. Institutional investors own 72.95% of the company’s stock.
Norfolk Southern stock traded down $0.14 during trading 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’s 50-day moving average is $181.90 and its two-hundred day moving average is $189.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.73. Norfolk Southern Corp. has a 52-week low of $138.65 and a 52-week high of $211.46. The firm has a market cap of $50.53 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.94 and a beta of 1.37.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 1st will be given a dividend of $0.94 per share. The ex-dividend date is Thursday, October 31st. This represents a $3.76 dividend on an annualized basis and a yield of 1.92%. Norfolk Southern’s dividend payout ratio (DPR) is 39.54%.
NSC has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of Norfolk Southern from $200.00 to $195.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. UBS Group lowered their price objective on shares of Norfolk Southern from $230.00 to $216.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Barclays lowered 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 research note on Thursday, October 24th. ValuEngine raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Cascend Securities cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $204.29.
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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