Norfolk Southern Co. (NYSE:NSC) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,701 shares of the railroad operator’s stock after selling 1,087 shares during the quarter. M&T Bank Corp owned 0.07% of Norfolk Southern worth $37,201,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern during the third quarter valued at $25,000. Morse Asset Management Inc acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $30,000. Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at about $31,000. HWG Holdings LP acquired a new position in Norfolk Southern in the 2nd quarter worth about $31,000. Finally, Coastline Trust Co purchased a new position in Norfolk Southern during the third quarter worth approximately $32,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $234.15 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average price of $258.36 and a 200 day moving average price of $244.04. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The stock has a market cap of $52.97 billion, a P/E ratio of 21.99, a PEG ratio of 2.34 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm earned $2.65 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insider Buying and Selling

In related news, Director Sameh Fahmy acquired 350 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of several research analyst reports. Sanford C. Bernstein upped their target price on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. TD Cowen upped their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company lifted their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Profile

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.