Hancock Whitney Corp Has $1.58 Million Position in Norfolk Southern Co. (NYSE:NSC)

Hancock Whitney Corp raised its position in Norfolk Southern Co. (NYSE:NSC) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,337 shares of the railroad operator’s stock after acquiring an additional 75 shares during the period. Hancock Whitney Corp’s holdings in Norfolk Southern were worth $1,575,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Boston Partners lifted its position in shares of Norfolk Southern by 157.1% in the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after purchasing an additional 1,766,135 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Norfolk Southern by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after buying an additional 1,088,072 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Norfolk Southern by 600.3% in the 4th quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock valued at $241,421,000 after acquiring an additional 875,473 shares in the last quarter. American Century Companies Inc. increased its position in shares of Norfolk Southern by 17.3% in the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after acquiring an additional 496,088 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in Norfolk Southern by 1,956.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 451,226 shares of the railroad operator’s stock worth $106,661,000 after acquiring an additional 429,288 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity

In related news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the acquisition, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NSC shares. Morgan Stanley reaffirmed an “underweight” rating and set a $175.00 price target on shares of Norfolk Southern in a research report on Monday, July 8th. TD Cowen upped their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Wells Fargo & Company upped their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada reduced their price target on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.24.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $247.86 on Monday. The stock has a fifty day moving average of $243.51 and a 200-day moving average of $237.74. The stock has a market capitalization of $56.00 billion, a P/E ratio of 39.91, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the company earned $2.95 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern’s payout ratio is presently 86.96%.

Norfolk Southern 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.