American National Bank & Trust Co. VA Purchases New Position in Norfolk Southern Co. (NYSE:NSC)

American National Bank & Trust Co. VA purchased a new stake in shares of Norfolk Southern Co. (NYSE:NSC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,114 shares of the railroad operator’s stock, valued at approximately $284,000.

A number of other hedge funds also recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in Norfolk Southern by 69.0% during the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after purchasing an additional 1,112,261 shares during the period. Morgan Stanley grew its holdings in shares of Norfolk Southern by 3.2% during the 3rd quarter. Morgan Stanley now owns 2,385,434 shares of the railroad operator’s stock worth $469,764,000 after acquiring an additional 73,149 shares during the period. Norges Bank purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $556,797,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Norfolk Southern by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,296,632 shares of the railroad operator’s stock worth $306,498,000 after acquiring an additional 38,080 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Norfolk Southern by 600.3% during the 4th quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock worth $241,421,000 after acquiring an additional 875,473 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NSC. Susquehanna reduced their target price on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Loop Capital upped their target price on Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Jefferies Financial Group began coverage on Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 target price on the stock. Royal Bank of Canada upgraded Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group upped their price target on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $262.89.

Norfolk Southern Stock Performance

NSC stock opened at $216.30 on Friday. The stock has a market capitalization of $48.86 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $225.01 and its 200 day simple moving average is $238.44.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. Norfolk Southern’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.32 earnings per share. As a group, research analysts forecast that Norfolk Southern Co. will post 11.88 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.50%. Norfolk Southern’s payout ratio is 86.96%.

Insider Activity

In other news, Director Sameh Fahmy purchased 2,000 shares of the stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Claude Mongeau bought 5,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $4,420,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sameh Fahmy bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at approximately $1,534,750. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Company 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.