Massmutual Trust Co. FSB ADV Buys 662 Shares of Norfolk Southern Co. (NYSE:NSC)

Massmutual Trust Co. FSB ADV grew its stake in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 270.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 907 shares of the railroad operator’s stock after acquiring an additional 662 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Norfolk Southern were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NSC. Arlington Partners LLC bought a new position in Norfolk Southern during the fourth quarter worth about $27,000. Vectors Research Management LLC boosted its holdings in Norfolk Southern by 468.8% during the fourth quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Norfolk Southern by 141.4% during the fourth quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock worth $42,000 after buying an additional 82 shares during the last quarter. HWG Holdings LP acquired a new stake in shares of Norfolk Southern during the fourth quarter worth about $43,000. Finally, Atticus Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.

NSC has been the topic of a number of research analyst reports. Susquehanna Bancshares dropped their price target on Norfolk Southern from $356.00 to $350.00 in a research report on Thursday, April 7th. TD Securities raised their price target on Norfolk Southern from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 28th. Susquehanna dropped their price target on Norfolk Southern from $356.00 to $350.00 and set a “positive” rating on the stock in a research report on Thursday, April 7th. Citigroup lowered Norfolk Southern from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $345.00 to $260.00 in a research report on Thursday, May 19th. Finally, Barclays dropped their target price on Norfolk Southern from $300.00 to $255.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $301.82.

In other news, CEO Alan H. Shaw sold 1,000 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $241.84, for a total transaction of $241,840.00. Following the completion of the transaction, the chief executive officer now directly owns 34,255 shares in the company, valued at approximately $8,284,229.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

NSC stock opened at $224.14 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 1.02. The business has a 50 day moving average price of $244.97 and a two-hundred day moving average price of $265.82. The company has a market cap of $53.42 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.52 and a beta of 1.37. Norfolk Southern Co. has a twelve month low of $219.31 and a twelve month high of $299.20.

Norfolk Southern (NYSE:NSCGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The railroad operator reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.02. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the company earned $2.66 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that Norfolk Southern Co. will post 13.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Friday, May 6th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $4.96 annualized dividend and a dividend yield of 2.21%. Norfolk Southern’s dividend payout ratio is currently 40.03%.

Norfolk Southern announced that its board has initiated a stock buyback plan on Tuesday, March 29th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the railroad operator to purchase up to 14.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Norfolk Southern Company Profile (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

Further Reading

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

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