AMG National Trust Bank Purchases 1,919 Shares of Norfolk Southern Corporation $NSC

AMG National Trust Bank grew its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 45.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,188 shares of the railroad operator’s stock after purchasing an additional 1,919 shares during the period. AMG National Trust Bank’s holdings in Norfolk Southern were worth $1,776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NSC. Bryn Mawr Trust Advisors LLC raised its stake in shares of Norfolk Southern by 983.8% during the first quarter. Bryn Mawr Trust Advisors LLC now owns 24,179 shares of the railroad operator’s stock worth $6,939,000 after acquiring an additional 21,948 shares in the last quarter. Applied Finance Capital Management LLC lifted its stake in Norfolk Southern by 4.9% in the first quarter. Applied Finance Capital Management LLC now owns 6,066 shares of the railroad operator’s stock worth $1,741,000 after purchasing an additional 285 shares during the last quarter. Navigate Wealth Management LLC purchased a new stake in Norfolk Southern during the first quarter valued at about $568,000. Diversify Wealth Management LLC bought a new position in shares of Norfolk Southern during the first quarter valued at about $855,000. Finally, Pittenger & Anderson Inc. grew its stake in shares of Norfolk Southern by 0.8% during the first quarter. Pittenger & Anderson Inc. now owns 14,685 shares of the railroad operator’s stock valued at $4,215,000 after buying an additional 112 shares during the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on NSC shares. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company raised their target price on shares of Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. UBS Group set a $327.00 target price on shares of Norfolk Southern in a research note on Thursday, May 7th. Evercore set a $325.00 price target on shares of Norfolk Southern in a report on Friday, April 24th. Finally, Citigroup increased their price target on shares of Norfolk Southern from $335.00 to $351.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $328.00.

Norfolk Southern Trading Down 0.3%

NSC opened at $326.75 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 52 week low of $257.49 and a 52 week high of $329.38. The stock has a market cap of $73.38 billion, a PE ratio of 27.53, a PEG ratio of 5.99 and a beta of 1.27. The business has a 50 day moving average of $313.54 and a 200-day moving average of $303.58.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 EPS. Equities research analysts predict that Norfolk Southern Corporation will post 12.24 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.