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

M&T Bank Corp lowered its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,309 shares of the railroad operator's stock after selling 2,392 shares during the quarter. M&T Bank Corp owned 0.07% of Norfolk Southern worth $34,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NSC. Financial Life Planners purchased a new position in Norfolk Southern during the fourth quarter valued at $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern during the fourth quarter worth about $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at about $27,000. Morse Asset Management Inc acquired a new stake in shares of Norfolk Southern during the third quarter valued at about $30,000. Finally, Coastline Trust Co acquired a new position in shares of Norfolk Southern in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company's stock, valued at $646,271.82. This represents a 32.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sameh Fahmy purchased 350 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were purchased 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. This trade represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NSC. Royal Bank of Canada lifted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Loop Capital downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating and reduced their price target for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Benchmark reissued a "buy" rating and issued a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. Susquehanna lowered their price target on shares of Norfolk Southern from $285.00 to $265.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Finally, Robert W. Baird raised their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $276.11.

Norfolk Southern Stock Up 0.1 %

NSC stock traded up $0.28 during mid-day trading on Wednesday, hitting $238.79. 1,497,619 shares of the company were exchanged, compared to its average volume of 1,160,826. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a market cap of $54.07 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.31 and a beta of 1.35. The firm's 50 day simple moving average is $246.30 and its 200 day simple moving average is $250.84.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data 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%. On average, sell-side analysts predict that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 7th. Norfolk Southern's payout ratio is 46.71%.

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.