Amalgamated Bank Cuts Stake in Norfolk Southern Co. (NYSE:NSC)

Amalgamated Bank decreased its position in Norfolk Southern Co. (NYSE:NSC) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,344 shares of the railroad operator’s stock after selling 1,079 shares during the period. Amalgamated Bank’s holdings in Norfolk Southern were worth $10,173,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NSC. Mizuho Securities USA LLC boosted its holdings in Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after purchasing an additional 3,280,579 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after buying an additional 889,925 shares during the period. FMR LLC boosted its stake in shares of Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after buying an additional 881,415 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Norfolk Southern during the third quarter worth $207,830,000. Finally, Holocene Advisors LP purchased a new position in Norfolk Southern in the third quarter worth $122,798,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NSC. Royal Bank of Canada boosted their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Citigroup boosted their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird increased their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company decreased their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Stephens raised their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Trading Up 0.3 %

Norfolk Southern stock opened at $244.92 on Wednesday. The stock has a 50-day moving average price of $245.52 and a 200 day moving average price of $250.83. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The stock has a market cap of $55.46 billion, a PE ratio of 21.19, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Equities research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.20%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Insiders Place Their Bets

In related news, Director Sameh Fahmy acquired 350 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert H. Lamphere acquired 607 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.