M&T Bank Corp Raises Stock Holdings in Norfolk Southern Corporation $NSC

M&T Bank Corp lifted its position in Norfolk Southern Corporation (NYSE:NSC) by 463.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 783,271 shares of the railroad operator’s stock after purchasing an additional 644,202 shares during the quarter. Norfolk Southern accounts for about 0.7% of M&T Bank Corp’s holdings, making the stock its 26th largest holding. M&T Bank Corp’s holdings in Norfolk Southern were worth $226,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TABR Capital Management LLC purchased a new position in shares of Norfolk Southern in the 4th quarter worth about $803,000. Ticino Wealth purchased a new position in shares of Norfolk Southern in the 4th quarter worth about $303,000. Legacy Advisors LLC boosted its holdings in shares of Norfolk Southern by 1.2% in the 4th quarter. Legacy Advisors LLC now owns 4,906 shares of the railroad operator’s stock worth $1,416,000 after purchasing an additional 56 shares in the last quarter. Bolthouse Investments LLC boosted its holdings in shares of Norfolk Southern by 9.2% in the 4th quarter. Bolthouse Investments LLC now owns 2,138 shares of the railroad operator’s stock worth $617,000 after purchasing an additional 181 shares in the last quarter. Finally, Cannon Global Investment Management LLC boosted its holdings in shares of Norfolk Southern by 6.9% in the 4th quarter. Cannon Global Investment Management LLC now owns 6,200 shares of the railroad operator’s stock worth $1,790,000 after purchasing an additional 400 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.7%

NYSE NSC opened at $302.12 on Wednesday. Norfolk Southern Corporation has a fifty-two week low of $217.33 and a fifty-two week high of $319.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The stock has a 50 day simple moving average of $299.75 and a two-hundred day simple moving average of $293.36. The stock has a market cap of $73.97 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 5.60 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the business posted $3.04 EPS. The business’s revenue was down 1.7% on a year-over-year basis. On average, analysts forecast that Norfolk Southern Corporation will post 12.15 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.8%. Norfolk Southern’s dividend payout ratio (DPR) is 42.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NSC shares. Rothschild & Co Redburn cut their price objective on Norfolk Southern from $317.00 to $308.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. UBS Group cut Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price for the company. in a report on Friday, February 6th. JPMorgan Chase & Co. dropped their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Weiss Ratings upgraded Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Finally, Jefferies Financial Group dropped their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a report on Monday, April 6th. Seven analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $308.78.

Norfolk Southern Company 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.