Truist Financial Corp Lowers Holdings in Norfolk Southern Corporation $NSC

Truist Financial Corp trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 218,782 shares of the railroad operator’s stock after selling 7,111 shares during the quarter. Truist Financial Corp owned about 0.10% of Norfolk Southern worth $65,724,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NSC shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Norfolk Southern in a report on Thursday, January 22nd. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. BMO Capital Markets upped their target price on shares of Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a research note on Friday, October 24th. Sanford C. Bernstein dropped 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. Finally, Evercore ISI boosted their price objective on shares of Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $303.52.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director William Jr. Clyburn acquired 204 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was purchased at an average price of $294.79 per share, with a total value of $60,137.16. Following the transaction, the director directly owned 405 shares in the company, valued at approximately $119,389.95. The trade was a 101.49% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy acquired 1,650 shares of Norfolk Southern stock in a transaction dated Wednesday, November 5th. The stock was bought at an average price of $282.97 per share, with a total value of $466,900.50. Following the completion of the purchase, the director directly owned 12,000 shares in the company, valued at $3,395,640. This represents a 15.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.06% of the company’s stock.

Norfolk Southern Price Performance

NYSE NSC opened at $284.78 on Thursday. The company has a 50-day moving average price of $290.09 and a 200-day moving average price of $285.43. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $63.90 billion, a P/E ratio of 21.72, a PEG ratio of 5.06 and a beta of 1.33.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be given a $1.35 dividend. The ex-dividend date is Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is presently 41.19%.

Norfolk Southern Profile

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.