Bank of New York Mellon Corp Raises Holdings in Norfolk Southern Co. (NYSE:NSC)

Bank of New York Mellon Corp lifted its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841,982 shares of the railroad operator’s stock after buying an additional 6,721 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of Norfolk Southern worth $432,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NSC. Mizuho Securities USA LLC boosted its holdings in Norfolk Southern by 18,831.2% during the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after buying an additional 3,280,579 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the period. FMR LLC boosted its stake in shares of Norfolk Southern by 48.4% during the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after acquiring an additional 881,415 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $207,830,000. Finally, Holocene Advisors LP acquired a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $122,798,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE NSC opened at $241.77 on Thursday. The business’s 50-day moving average price is $245.60 and its 200 day moving average price is $250.77. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a market capitalization of $54.74 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, research analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.23%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of research analyst reports. Susquehanna decreased their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Barclays boosted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stephens raised their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and an average target price of $276.11.

About Norfolk Southern

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.