M&T Bank Corp Sells 4,758 Shares of Norfolk Southern Corporation $NSC

M&T Bank Corp decreased its stake in Norfolk Southern Corporation (NYSE:NSC) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,069 shares of the railroad operator’s stock after selling 4,758 shares during the period. M&T Bank Corp owned approximately 0.06% of Norfolk Southern worth $41,778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tritonpoint Wealth LLC grew its holdings in Norfolk Southern by 3.5% during the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock worth $313,000 after acquiring an additional 35 shares during the last quarter. Massachusetts Wealth Management increased its position in Norfolk Southern by 0.6% in the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after acquiring an additional 35 shares during the period. ORG Partners LLC raised its stake in shares of Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Inspirion Wealth Advisors LLC raised its stake in shares of Norfolk Southern by 1.9% during the third quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock valued at $603,000 after acquiring an additional 37 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Norfolk Southern by 1.8% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the railroad operator’s stock worth $613,000 after purchasing an additional 37 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC stock opened at $289.25 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The firm has a market cap of $64.96 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 5.26 and a beta of 1.31. The company’s fifty day simple moving average is $300.74 and its 200 day simple moving average is $291.99. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $319.94.

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

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NSC. UBS Group cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price objective on the stock. in a research note on Friday, February 6th. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings upgraded Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Robert W. Baird increased their price target on Norfolk Southern from $288.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Finally, Evercore raised their price objective on Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Eight equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $308.95.

Norfolk Southern Company 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.