Bank of New York Mellon Corp Has $495.01 Million Stock Holdings in Norfolk Southern Corporation $NSC

Bank of New York Mellon Corp lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,647,781 shares of the railroad operator’s stock after selling 67,832 shares during the period. Bank of New York Mellon Corp owned 0.73% of Norfolk Southern worth $495,010,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NSC. Norges Bank acquired a new position in Norfolk Southern during the second quarter valued at approximately $613,255,000. Holocene Advisors LP boosted its holdings in shares of Norfolk Southern by 550.6% during the 2nd quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock worth $251,712,000 after buying an additional 832,210 shares during the period. TOMS Capital Investment Management LP acquired a new position in Norfolk Southern in the 2nd quarter valued at $181,995,000. Assenagon Asset Management S.A. raised its holdings in Norfolk Southern by 93.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock worth $286,154,000 after acquiring an additional 459,166 shares during the period. Finally, Laurel Wealth Advisors LLC lifted its position in Norfolk Southern by 25,497.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 428,750 shares of the railroad operator’s stock worth $109,747,000 after acquiring an additional 427,075 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy purchased 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired at an average price of $282.97 per share, with a total value of $466,900.50. Following the purchase, the director directly owned 12,000 shares in the company, valued at $3,395,640. This represents a 15.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Anil Bhatt sold 900 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. This represents a 38.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NSC shares. Deutsche Bank Aktiengesellschaft lowered Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $354.00 to $297.00 in a research note on Thursday, December 11th. BMO Capital Markets lifted their price target on Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Norfolk Southern in a report on Thursday, January 22nd. Susquehanna raised their price objective on shares of Norfolk Southern from $288.00 to $304.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Finally, UBS Group dropped their target price on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and a consensus price target of $303.52.

Norfolk Southern Trading Down 1.5%

Shares of NSC stock opened at $284.78 on Thursday. The firm has a fifty day moving average of $290.09 and a 200-day moving average of $285.43. The stock has a market cap of $63.90 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 5.06 and a beta of 1.33. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is currently 41.19%.

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.