First Citizens Bank & Trust Co. Increases Stake in Norfolk Southern Co. (NYSE:NSC)

First Citizens Bank & Trust Co. raised its position in shares of Norfolk Southern Co. (NYSE:NSC) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,823 shares of the railroad operator’s stock after buying an additional 134 shares during the period. First Citizens Bank & Trust Co.’s holdings in Norfolk Southern were worth $663,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Lake Street Advisors Group LLC boosted its position in Norfolk Southern by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after buying an additional 41 shares during the period. Raab & Moskowitz Asset Management LLC boosted its position in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after buying an additional 41 shares during the period. Foster Victor Wealth Advisors LLC boosted its position in Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after buying an additional 42 shares during the period. Stratos Investment Management LLC boosted its position in Norfolk Southern by 3.8% during the 3rd quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after buying an additional 42 shares during the period. Finally, Archer Investment Corp boosted its position in Norfolk Southern by 2.3% during the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock valued at $481,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $259.70 on Tuesday. The firm has a 50 day moving average of $249.61 and a 200 day moving average of $248.15. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $58.76 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60.

Insider Activity at Norfolk Southern

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Evercore ISI dropped their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Citigroup raised their target price on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital raised their target price on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.68.

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.