Bank of Montreal Can Increases Holdings in Norfolk Southern Corporation

The investment firm boosts its stake in the railroad operator by nearly 73% in the third quarter.

Mar. 12, 2026 at 7:20am

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Bank of Montreal Can, an investment management firm, increased its stake in Norfolk Southern Corporation, a major U.S. freight railroad company, by 72.9% during the third quarter of the year, according to a recent SEC filing. The firm now owns 313,834 shares of Norfolk Southern's stock, worth approximately $94.3 million.

Why it matters

This significant increase in ownership by a major institutional investor signals confidence in Norfolk Southern's business and future prospects. As a Class I railroad, Norfolk Southern plays a crucial role in the U.S. freight transportation network, serving a variety of industries such as coal, automotive, chemicals, and consumer goods.

The details

According to the SEC filing, Bank of Montreal Can added 132,296 shares of Norfolk Southern to its portfolio during the third quarter, bringing its total ownership to 313,834 shares. This represents a 72.9% increase in the firm's stake in the railroad operator. Norfolk Southern's stock is currently trading around $298 per share, giving Bank of Montreal Can's position a market value of approximately $94.3 million.

  • The increase in ownership occurred during the third quarter of 2026.

The players

Bank of Montreal Can

An investment management firm that has increased its stake in Norfolk Southern Corporation.

Norfolk Southern Corporation

A major U.S. freight railroad company that operates an extensive network across the eastern United States and provides rail transportation and related logistics services.

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The takeaway

The significant increase in ownership by Bank of Montreal Can suggests that the investment firm sees long-term value in Norfolk Southern's business and its role in the U.S. freight transportation industry. This news could signal potential growth opportunities for the railroad operator as it continues to serve a diverse range of industries.