First National Trust Co Sells 722 Shares of Norfolk Southern Corp. (NSC)

First National Trust Co trimmed its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,502 shares of the railroad operator’s stock after selling 722 shares during the quarter. First National Trust Co’s holdings in Norfolk Southern were worth $1,956,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. QCI Asset Management Inc. NY increased its stake in shares of Norfolk Southern by 0.5% during the second quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after buying an additional 5 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in shares of Norfolk Southern by 0.6% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,090 shares of the railroad operator’s stock worth $255,000 after buying an additional 13 shares during the period. YorkBridge Wealth Partners LLC increased its stake in shares of Norfolk Southern by 0.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,263 shares of the railroad operator’s stock worth $279,000 after buying an additional 15 shares during the period. Krilogy Financial LLC increased its stake in shares of Norfolk Southern by 2.6% during the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after buying an additional 22 shares during the period. Finally, Good Life Advisors LLC increased its stake in shares of Norfolk Southern by 1.2% during the second quarter. Good Life Advisors LLC now owns 1,975 shares of the railroad operator’s stock worth $241,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 72.45% of the company’s stock.

A number of research firms recently weighed in on NSC. Loop Capital lowered shares of Norfolk Southern from a “hold” rating to a “sell” rating and set a $133.00 target price on the stock. in a research note on Monday, November 27th. Wells Fargo & Co lowered shares of Norfolk Southern from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Robert W. Baird restated a “hold” rating and set a $136.00 target price on shares of Norfolk Southern in a research note on Friday, November 10th. Goldman Sachs Group began coverage on shares of Norfolk Southern in a research note on Monday, November 13th. They set a “neutral” rating and a $126.00 target price on the stock. Finally, Morgan Stanley restated an “underweight” rating and set a $75.00 target price (down from $77.00) on shares of Norfolk Southern in a research note on Monday, October 2nd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. Norfolk Southern has an average rating of “Hold” and a consensus target price of $134.52.

In other news, VP Thomas E. Hurlbut sold 6,175 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $129.61, for a total value of $800,341.75. Following the completion of the sale, the vice president now directly owns 7,568 shares of the company’s stock, valued at $980,888.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 2,370 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total value of $319,262.70. Following the completion of the sale, the vice president now directly owns 6,370 shares of the company’s stock, valued at $858,102.70. The disclosure for this sale can be found here. Insiders sold 12,113 shares of company stock valued at $1,594,148 over the last three months. Corporate insiders own 0.36% of the company’s stock.

Norfolk Southern Corp. (NYSE:NSC) opened at $154.05 on Thursday. The company has a market cap of $43,780.77, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 1.69 and a beta of 1.38. Norfolk Southern Corp. has a one year low of $105.89 and a one year high of $157.15. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.11. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. Norfolk Southern had a net margin of 17.86% and a return on equity of 14.72%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. equities research analysts anticipate that Norfolk Southern Corp. will post 6.48 EPS for the current fiscal year.

Norfolk Southern announced that its board has authorized a stock buyback plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the railroad operator to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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About Norfolk Southern

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

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

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