AMG National Trust Bank Increases Stock Position in Norfolk Southern Corporation $NSC

AMG National Trust Bank boosted its stake in Norfolk Southern Corporation (NYSE:NSC) by 45.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,188 shares of the railroad operator’s stock after purchasing an additional 1,919 shares during the period. AMG National Trust Bank’s holdings in Norfolk Southern were worth $1,776,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Norfolk Southern by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock valued at $6,012,836,000 after buying an additional 272,651 shares during the period. State Street Corp increased its holdings in Norfolk Southern by 4.1% during the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock valued at $2,803,630,000 after buying an additional 379,819 shares during the last quarter. Geode Capital Management LLC raised its position in Norfolk Southern by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after acquiring an additional 36,205 shares during the period. Norges Bank purchased a new position in shares of Norfolk Southern during the 4th quarter worth $1,084,701,000. Finally, Pentwater Capital Management LP boosted its stake in shares of Norfolk Southern by 9.8% during the 4th quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator’s stock worth $871,646,000 after acquiring an additional 269,000 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Down 0.3%

Shares of NSC stock opened at $326.75 on Wednesday. The company’s fifty day simple moving average is $313.54 and its two-hundred day simple moving average is $303.58. Norfolk Southern Corporation has a 52 week low of $257.49 and a 52 week high of $329.38. The stock has a market cap of $73.38 billion, a P/E ratio of 27.53, a PEG ratio of 5.99 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $2.69 earnings per share. Analysts predict that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is currently 45.49%.

Analyst Upgrades and Downgrades

NSC has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Norfolk Southern from $331.00 to $316.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Wells Fargo & Company raised their price objective on Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. UBS Group set a $327.00 price objective on Norfolk Southern in a research report on Thursday, May 7th. Citigroup boosted their price objective on Norfolk Southern from $335.00 to $351.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Wolfe Research increased their target price on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Seven investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $328.00.

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.