M&T Bank Corp Trims Stake in Norfolk Southern Co. (NYSE:NSC)

M&T Bank Corp reduced its position in Norfolk Southern Co. (NYSE:NSC) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 147,309 shares of the railroad operator’s stock after selling 2,392 shares during the period. M&T Bank Corp’s holdings in Norfolk Southern were worth $34,573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NSC. Raab & Moskowitz Asset Management LLC raised its stake in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after acquiring an additional 41 shares during the last quarter. Archer Investment Corp raised its stake in Norfolk Southern by 2.3% during the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock valued at $481,000 after acquiring an additional 43 shares during the last quarter. Albert D Mason Inc. raised its stake in shares of Norfolk Southern by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after buying an additional 46 shares in the last quarter. Maia Wealth LLC raised its stake in shares of Norfolk Southern by 4.7% during the 3rd quarter. Maia Wealth LLC now owns 1,044 shares of the railroad operator’s stock worth $264,000 after buying an additional 47 shares in the last quarter. Finally, Signal Advisors Wealth LLC raised its stake in shares of Norfolk Southern by 5.4% during the 4th quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock worth $225,000 after buying an additional 49 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sameh Fahmy purchased 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, 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. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NSC. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Wells Fargo & Company cut their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada increased their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird increased their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. One investment 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. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.11.

Norfolk Southern Trading Down 2.4 %

NYSE:NSC opened at $239.18 on Wednesday. The business’s 50-day moving average is $246.28 and its two-hundred day moving average is $250.93. 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 Co. has a 12 month low of $206.71 and a 12 month high of $277.60. The firm has a market capitalization of $54.16 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS 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%. Research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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