Norfolk Southern Co. (NYSE:NSC) Position Reduced by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 2.7% during the fourth quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Financial Life Planners acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Keystone Financial Group Inc. acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Vision Financial Markets LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $28,000. Finally, Morse Asset Management Inc acquired a new position in Norfolk Southern in the third quarter worth approximately $30,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 2.4 %

NSC opened at $243.89 on Friday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $55.22 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 2.31 and a beta of 1.35. The business has a 50 day moving average of $246.51 and a 200-day moving average of $250.85.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, sell-side analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.21%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup increased their price objective on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Barclays increased their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Wells Fargo & Company dropped their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a report on Friday. They issued a “buy” rating and a $293.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $276.95.

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.