Norfolk Southern Corporation $NSC Shares Bought by BTC Capital Management Inc.

BTC Capital Management Inc. raised its holdings in Norfolk Southern Corporation (NYSE:NSC) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,034 shares of the railroad operator’s stock after buying an additional 1,685 shares during the quarter. BTC Capital Management Inc.’s holdings in Norfolk Southern were worth $12,028,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Norfolk Southern by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,561,273 shares of the railroad operator’s stock worth $5,263,069,000 after purchasing an additional 239,914 shares in the last quarter. Dodge & Cox raised its holdings in shares of Norfolk Southern by 1.8% in the second quarter. Dodge & Cox now owns 10,859,121 shares of the railroad operator’s stock worth $2,779,609,000 after buying an additional 192,567 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Norfolk Southern by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,822,075 shares of the railroad operator’s stock worth $1,228,064,000 after buying an additional 36,362 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of Norfolk Southern by 4.6% during the second quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock worth $1,070,702,000 after buying an additional 184,586 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of Norfolk Southern by 6.5% during the second quarter. Lazard Asset Management LLC now owns 3,289,431 shares of the railroad operator’s stock valued at $841,994,000 after buying an additional 201,861 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $315.13 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $319.94. The business’s 50 day moving average is $293.78 and its two-hundred day moving average is $287.93. The company has a market capitalization of $70.77 billion, a P/E ratio of 24.72, a P/E/G ratio of 5.59 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the company posted $3.04 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, February 6th. Norfolk Southern’s dividend payout ratio (DPR) is presently 42.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada reduced their target price on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Norfolk Southern in a report on Thursday, January 22nd. BMO Capital Markets raised their price objective on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Susquehanna upped their target price on Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $304.47.

Insider Buying and Selling at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president directly owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This trade represents a 38.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Jr. Clyburn acquired 204 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the acquisition, the director owned 405 shares in the company, valued at $119,389.95. The trade was a 101.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.06% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.