Burke & Herbert Bank & Trust Co. Has $3.48 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Burke & Herbert Bank & Trust Co. lifted its position in Norfolk Southern Co. (NYSE:NSC) by 77.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,187 shares of the railroad operator’s stock after acquiring an additional 7,055 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Norfolk Southern were worth $3,475,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Raleigh Capital Management Inc. grew its stake in shares of Norfolk Southern by 4.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after acquiring an additional 40 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Norfolk Southern by 4.2% during the 4th quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock worth $240,000 after acquiring an additional 41 shares in the last quarter. Fiduciary Group LLC grew its stake in shares of Norfolk Southern by 0.4% during the 4th quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock worth $2,360,000 after acquiring an additional 41 shares in the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of Norfolk Southern by 0.6% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock worth $1,762,000 after acquiring an additional 43 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in shares of Norfolk Southern by 2.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock worth $397,000 after acquiring an additional 43 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The stock was 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 directly owns 1,488 shares in the company, valued at $371,077.44. The disclosure for this sale can be found here. Over the last three months, insiders have bought 10,350 shares of company stock worth $2,353,715. Insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock traded up $2.28 during midday trading on Tuesday, reaching $239.46. The company’s stock had a trading volume of 705,928 shares, compared to its average volume of 1,295,469. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average price of $226.68 and a 200-day moving average price of $238.41. The stock has a market cap of $54.10 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.95 earnings per share. On average, sell-side analysts predict that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NSC shares. Loop Capital raised their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Benchmark raised their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Susquehanna raised their target price on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada decreased their target price on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, TD Cowen raised 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, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

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.