Norfolk Southern Co. (NYSE:NSC) Stake Lessened by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lessened its stake in Norfolk Southern Co. (NYSE:NSC) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,672 shares of the railroad operator’s stock after selling 270 shares during the period. Atlantic Union Bankshares Corp’s holdings in Norfolk Southern were worth $2,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NSC. Financial Life Planners bought a new stake in Norfolk Southern during the fourth quarter valued at $27,000. Keystone Financial Group Inc. bought a new stake in Norfolk Southern during the fourth quarter valued at $27,000. Bank of Jackson Hole Trust bought a new stake in Norfolk Southern during the fourth quarter valued at $27,000. Morse Asset Management Inc bought a new stake in Norfolk Southern during the third quarter valued at $30,000. Finally, Vision Financial Markets LLC bought a new stake in Norfolk Southern during the fourth quarter valued at $28,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NSC stock opened at $243.89 on Friday. The company has a market capitalization of $55.22 billion, a P/E ratio of 21.10, a PEG ratio of 2.31 and a beta of 1.35. The company has a 50-day simple moving average of $246.51 and a 200 day simple moving average of $250.85. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 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 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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. This represents a $5.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insider Buying and Selling at Norfolk Southern

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NSC shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research note on Friday. They set a “buy” rating and a $293.00 target price for the company. Citigroup boosted their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Robert W. Baird upped their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada upped their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $276.95.

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.