Truist Financial Corp Has $56.52 Million Position in Norfolk Southern Co. (NYSE:NSC)

Truist Financial Corp increased its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,796 shares of the railroad operator's stock after acquiring an additional 21,335 shares during the quarter. Truist Financial Corp owned about 0.11% of Norfolk Southern worth $56,515,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new position in Norfolk Southern during the third quarter valued at about $25,000. Financial Life Planners bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern in the fourth quarter valued at $27,000. Morse Asset Management Inc bought a new position in Norfolk Southern in the third quarter worth $30,000. Finally, Coastline Trust Co acquired a new stake in Norfolk Southern during the third quarter worth $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.6 %

NSC stock traded down $1.57 during trading hours on Friday, reaching $247.84. 1,493,699 shares of the stock were exchanged, compared to its average volume of 1,217,662. The firm's 50-day moving average is $245.46 and its 200-day moving average is $250.66. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a market cap of $56.12 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.30 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, equities research analysts expect that Norfolk Southern Co. will post 13.02 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. Norfolk Southern's dividend payout ratio is presently 46.71%.

Insider Buying and Selling

In other news, Director Gilbert H. Lamphere bought 607 shares of the company's stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy purchased 350 shares of the stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction 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. The trade was a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NSC. Barclays raised their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Stephens upped 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. Benchmark reissued a "buy" rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Loop Capital downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating and reduced their target price for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Royal Bank of Canada increased 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $276.11.

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.