Norfolk Southern Co. (NYSE:NSC) Shares Sold by UMB Bank n.a.

Posted by Defense World Staff on Jun 22nd, 2023

UMB Bank n.a. trimmed its holdings in Norfolk Southern Co. (NYSE:NSC – Get Rating) by 32.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,596 shares of the railroad operator’s stock after selling 5,949 shares during the quarter. UMB Bank n.a.’s holdings in Norfolk Southern were worth $2,670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Investors Research Corp raised its position in shares of Norfolk Southern by 8.2% during the 4th quarter. Investors Research Corp now owns 541 shares of the railroad operator’s stock valued at $133,000 after acquiring an additional 41 shares in the last quarter. Argyle Capital Management Inc. raised its position in shares of Norfolk Southern by 1.0% during the 4th quarter. Argyle Capital Management Inc. now owns 4,389 shares of the railroad operator’s stock valued at $1,082,000 after acquiring an additional 42 shares in the last quarter. Alpha Cubed Investments LLC raised its position in shares of Norfolk Southern by 3.2% during the 4th quarter. Alpha Cubed Investments LLC now owns 1,386 shares of the railroad operator’s stock valued at $342,000 after acquiring an additional 43 shares in the last quarter. Relyea Zuckerberg Hanson LLC raised its position in shares of Norfolk Southern by 3.4% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,405 shares of the railroad operator’s stock valued at $346,000 after acquiring an additional 46 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Norfolk Southern by 1.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 3,498 shares of the railroad operator’s stock valued at $866,000 after acquiring an additional 48 shares in the last quarter. 71.97% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 0.2 %

Shares of NYSE NSC opened at $220.79 on Thursday. Norfolk Southern Co. has a 12 month low of $196.33 and a 12 month high of $264.22. The company has a market cap of $50.26 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 2.37 and a beta of 1.28. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $212.20 and a 200-day simple moving average of $225.78.

Norfolk Southern (NYSE:NSC – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The railroad operator reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.17. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 25.76% and a net margin of 23.40%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.93 EPS. Sell-side analysts predict that Norfolk Southern Co. will post 13.36 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, May 20th. Investors of record on Friday, May 5th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, May 4th. Norfolk Southern’s dividend payout ratio is currently 41.51%.

Insider Buying and Selling

In related news, CEO Alan H. Shaw sold 2,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $209.55, for a total value of $419,100.00. Following the completion of the sale, the chief executive officer now directly owns 30,654 shares of the company’s stock, valued at approximately $6,423,545.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

NSC has been the topic of several research reports. Argus lowered Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. 1-800-FLOWERS.COM restated a “maintains” rating on shares of Norfolk Southern in a research note on Thursday, April 27th. Citigroup upgraded Norfolk Southern from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $226.00 to $257.00 in a research note on Monday, May 22nd. VNET Group restated a “maintains” rating on shares of Norfolk Southern in a research note on Thursday, April 27th. Finally, Susquehanna upped their price objective on Norfolk Southern from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, April 27th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.48.

About Norfolk Southern

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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.