Fulton Bank N.A. Has $2.03 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Fulton Bank N.A. increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,181 shares of the railroad operator’s stock after buying an additional 169 shares during the period. Fulton Bank N.A.’s holdings in Norfolk Southern were worth $2,033,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NSC. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the first quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Norfolk Southern during the second quarter worth about $27,000. Financial Connections Group Inc. bought a new stake in shares of Norfolk Southern during the second quarter worth about $31,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern during the second quarter worth about $31,000. Finally, Rise Advisors LLC bought a new stake in shares of Norfolk Southern during the first quarter worth about $34,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NSC shares. Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Stifel Nicolaus boosted their price target on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Morgan Stanley restated an “underweight” rating and set a $175.00 price target on shares of Norfolk Southern in a report on Monday, July 8th. Finally, TD Cowen boosted their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost 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 approximately $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the business’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 transaction of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $243.82 on Tuesday. The firm has a market cap of $55.08 billion, a PE ratio of 39.26, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The company’s fifty day simple moving average is $246.80 and its two-hundred day simple moving average is $236.88.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 EPS. As a group, equities analysts expect that Norfolk Southern Co. will post 11.8 EPS for the current 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 was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.21%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

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.