Atlantic Union Bankshares Corp Has $2.47 Million Position in Norfolk Southern Co. (NYSE:NSC)

Atlantic Union Bankshares Corp decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,942 shares of the railroad operator’s stock after selling 169 shares during the period. Atlantic Union Bankshares Corp’s holdings in Norfolk Southern were worth $2,471,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Mizuho Securities USA LLC boosted its stake in Norfolk Southern by 18,831.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after purchasing an additional 3,280,579 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares in the last quarter. FMR LLC boosted its position in shares of Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after buying an additional 881,415 shares during the last quarter. American Century Companies Inc. grew its holdings in Norfolk Southern by 17.3% during the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after buying an additional 496,088 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Norfolk Southern by 23,037.4% in the third quarter. International Assets Investment Management LLC now owns 349,143 shares of the railroad operator’s stock valued at $86,762,000 after purchasing an additional 347,634 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.3 %

NSC stock opened at $276.10 on Friday. The company’s 50 day moving average is $256.63 and its 200 day moving average is $241.42. The stock has a market cap of $62.46 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.65 EPS. Sell-side analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.96%. Norfolk Southern’s payout ratio is 50.70%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy purchased 1,000 shares of Norfolk Southern stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NSC. Barclays increased their price target on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Stephens restated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern 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.