First Citizens Bank & Trust Co. Has $3.78 Million Position in Norfolk Southern Corporation $NSC

Key Points

• First Citizens Bank & Trust Co. increased its Norfolk Southern stake by 309% in the first quarter, buying 9,941 additional shares to bring its total to 13,158 shares valued at about $3.78 million.
• Institutional interest in Norfolk Southern remains high, with 75.10% of shares owned by institutions, while Wall Street sentiment is mixed: the stock has an average Hold rating and a consensus price target of $329.35.
• Norfolk Southern reported Q1 EPS of $2.65, beating estimates, and recently announced a quarterly dividend of $1.35 per share, equal to a 1.6% annualized yield.

First Citizens Bank & Trust Co. grew its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 309.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,158 shares of the railroad operator's stock after buying an additional 9,941 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Norfolk Southern were worth $3,776,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NSC. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern during the third quarter valued at approximately $25,000. BNP Paribas bought a new position in Norfolk Southern in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. raised its position in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock worth $27,000 after purchasing an additional 67 shares during the last quarter. Financial Life Planners acquired a new position in Norfolk Southern during the 1st quarter worth $33,000. Finally, Bayban bought a new position in Norfolk Southern in the 4th quarter valued at $34,000. 75.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NSC. BMO Capital Markets lifted their target price on Norfolk Southern from $305.00 to $310.00 and gave the company a "market perform" rating in a research note on Monday, April 27th. Sanford C. Bernstein cut their price target on Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. Jefferies Financial Group decreased their price target on Norfolk Southern from $350.00 to $310.00 and set a "hold" rating on the stock in a report on Monday, April 6th. Rothschild & Co Redburn boosted their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Finally, Citigroup upped their target price 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. Six analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $329.35.

Norfolk Southern Price Performance

Shares of NSC opened at $331.52 on Thursday. The stock has a market cap of $74.46 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 6.06 and a beta of 1.27. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $342.53. The stock's 50-day moving average price is $316.07 and its two-hundred day moving average price is $305.42. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $2.69 EPS. The firm's revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Norfolk Southern Corporation will post 12.24 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.