First Citizens Bank & Trust Co. Grows Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

First Citizens Bank & Trust Co. boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,823 shares of the railroad operator’s stock after purchasing an additional 134 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Norfolk Southern were worth $663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NSC. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at $25,000. Morse Asset Management Inc purchased a new position in Norfolk Southern in the 3rd quarter worth about $30,000. HWG Holdings LP purchased a new position in Norfolk Southern in the 2nd quarter worth about $31,000. Coastline Trust Co purchased a new position in Norfolk Southern in the 3rd quarter worth about $32,000. Finally, Capital Performance Advisors LLP purchased a new position in Norfolk Southern in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Loop Capital raised their price target on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen raised their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their target price on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Bank of America increased their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $259.70 on Tuesday. The firm has a market capitalization of $58.76 billion, a P/E ratio of 24.39, a PEG ratio of 2.29 and a beta of 1.34. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The company has a 50 day moving average price of $249.61 and a 200 day moving average price of $248.15. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.