4,757 Shares in Norfolk Southern Corporation $NSC Acquired by AMG National Trust Bank

Key Points

• AMG National Trust Bank acquired 4,757 Norfolk Southern shares during the second quarter, valued at approximately $1.5 million. Other institutional investors also initiated positions, with institutions and hedge funds owning 75.1% of the stock.
• Norfolk Southern reported quarterly EPS of $3.52, beating estimates of $3.32, while revenue rose 12.5% year over year to $3.46 billion.
• The company declared a quarterly dividend of $1.35 per share, equivalent to $5.40 annually and a 1.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $348.

AMG National Trust Bank acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,757 shares of the railroad operator's stock, valued at approximately $1,497,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Simplicity Wealth LLC bought a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $4,356,000. Baxter Bros Inc. bought a new position in Norfolk Southern in the second quarter valued at approximately $4,941,000. Wealth Effects LLC bought a new position in Norfolk Southern in the second quarter valued at approximately $204,000. Longfellow Investment Management Co. LLC acquired a new position in Norfolk Southern during the second quarter valued at approximately $1,162,000. Finally, Old West Investment Management LLC bought a new stake in Norfolk Southern during the second quarter worth $4,503,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 0.1%

Shares of NSC opened at $334.69 on Monday. The company has a market capitalization of $75.17 billion, a PE ratio of 28.56, a PEG ratio of 5.92 and a beta of 1.27. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The stock's 50-day moving average price is $324.87 and its two-hundred day moving average price is $311.52. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business's revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.29 EPS. On average, analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a $1.35 dividend. The ex-dividend date is Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern's dividend payout ratio is presently 46.08%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group restated a "neutral" rating and issued a $363.00 target price on shares of Norfolk Southern in a research report on Friday, July 24th. BMO Capital Markets boosted their price objective on Norfolk Southern from $310.00 to $355.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Wall Street Zen raised Norfolk Southern from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Wells Fargo & Company increased their target price on Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Finally, Evercore set a $358.00 price target on Norfolk Southern in a research note on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of "Hold" and an average price target of $348.00.

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.

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