Truist Financial Corp Lowers Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Truist Financial Corp decreased its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237,401 shares of the railroad operator's stock after selling 3,395 shares during the quarter. Truist Financial Corp owned 0.10% of Norfolk Southern worth $56,229,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Norfolk Southern by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock worth $1,098,472,000 after purchasing an additional 113,648 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after purchasing an additional 128 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in shares of Norfolk Southern by 1.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock valued at $846,000 after buying an additional 65 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Norfolk Southern by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock valued at $16,925,000 after buying an additional 2,782 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Norfolk Southern by 8.3% in the first quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock worth $990,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Jefferies Financial Group decreased their price target on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Stifel Nicolaus decreased their target price on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Bank of America raised their price target on shares of Norfolk Southern from $280.00 to $290.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada cut their price objective on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Evercore ISI lowered their target price on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $267.48.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock traded down $2.49 during trading hours on Monday, reaching $260.01. 860,172 shares of the company's stock were exchanged, compared to its average volume of 1,236,867. The business has a fifty day moving average of $244.07 and a two-hundred day moving average of $239.82. The company has a market capitalization of $58.62 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.13 and a beta of 1.31. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the prior year, the company posted $2.49 EPS. The firm's revenue was down .4% on a year-over-year basis. As a group, research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.08%. Norfolk Southern's dividend payout ratio is currently 36.89%.

Norfolk Southern Company 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.