BB&T Corp Has $15.27 Million Position in Norfolk Southern Corp. (NSC)

BB&T Corp increased its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 6.0% in the first quarter, HoldingsChannel reports. The firm owned 81,679 shares of the railroad operator’s stock after acquiring an additional 4,639 shares during the quarter. BB&T Corp’s holdings in Norfolk Southern were worth $15,265,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bruderman Asset Management LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $26,000. Intercontinental Wealth Advisors LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $27,000. Moody National Bank Trust Division purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $31,000. Pinnacle Bank purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $33,000. Finally, PRW Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 74.39% of the company’s stock.

Shares of NSC stock traded down $0.35 during trading hours on Tuesday, hitting $201.14. The company’s stock had a trading volume of 433,198 shares, compared to its average volume of 1,675,675. The firm has a market capitalization of $53.46 billion, a PE ratio of 21.15, a P/E/G ratio of 1.69 and a beta of 1.43. Norfolk Southern Corp. has a twelve month low of $133.47 and a twelve month high of $201.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.72 and a quick ratio of 0.64.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, January 24th. The railroad operator reported $2.57 EPS for the quarter, beating the consensus estimate of $2.30 by $0.27. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.85 billion. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.69 earnings per share. As a group, sell-side analysts anticipate that Norfolk Southern Corp. will post 10.42 earnings per share for the current year.

A number of brokerages have recently commented on NSC. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a report on Friday, March 8th. Morgan Stanley boosted their price target on shares of Norfolk Southern from $115.00 to $116.00 and gave the stock an “underweight” rating in a research note on Monday, January 7th. Royal Bank of Canada lowered shares of Norfolk Southern from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $180.00 to $178.00 in a research note on Tuesday, February 19th. TD Securities boosted their price target on shares of Norfolk Southern from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 25th. Finally, Loop Capital boosted their price target on shares of Norfolk Southern to $210.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $190.47.

In related news, VP Jason Andrew Zampi sold 519 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $181.34, for a total transaction of $94,115.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Joseph Wheeler sold 4,761 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $180.23, for a total transaction of $858,075.03. Following the transaction, the chief operating officer now directly owns 19,724 shares in the company, valued at approximately $3,554,856.52. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

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Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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