BTC Capital Management Inc. Grows Stock Position in Norfolk Southern Corporation $NSC

BTC Capital Management Inc. increased its stake in Norfolk Southern Corporation (NYSE:NSC) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,034 shares of the railroad operator’s stock after buying an additional 1,685 shares during the quarter. BTC Capital Management Inc.’s holdings in Norfolk Southern were worth $12,028,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Columbia Bank lifted its holdings in shares of Norfolk Southern by 3.7% in the 3rd quarter. Columbia Bank now owns 5,724 shares of the railroad operator’s stock worth $1,658,000 after acquiring an additional 204 shares during the last quarter. Assetmark Inc. raised its position in Norfolk Southern by 13.9% in the 3rd quarter. Assetmark Inc. now owns 5,101 shares of the railroad operator’s stock worth $1,532,000 after purchasing an additional 624 shares during the period. Public Sector Pension Investment Board raised its position in Norfolk Southern by 13.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,373 shares of the railroad operator’s stock worth $5,820,000 after purchasing an additional 2,345 shares during the period. Alpine Associates Management Inc. bought a new stake in Norfolk Southern in the third quarter worth about $150,989,000. Finally, ICW Investment Advisors LLC boosted its position in shares of Norfolk Southern by 2.3% during the third quarter. ICW Investment Advisors LLC now owns 3,252 shares of the railroad operator’s stock valued at $977,000 after buying an additional 72 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insider Activity

In other news, Director William Jr. Clyburn acquired 204 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were purchased at an average price of $294.79 per share, with a total value of $60,137.16. Following the transaction, the director directly owned 405 shares in the company, valued at approximately $119,389.95. This represents a 101.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anil Bhatt sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total transaction of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This trade represents a 38.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is owned by insiders.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $315.13 on Friday. The firm has a market cap of $70.77 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 5.59 and a beta of 1.34. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $319.94. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $293.78 and its 200 day moving average is $287.93.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.46. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is presently 42.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NSC shares. Barclays reduced their price target on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Evercore upped their price objective on Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Robert W. Baird reduced their target price on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. BMO Capital Markets lifted their target price on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Seven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $304.47.

Norfolk Southern Profile

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.