Norfolk Southern Corporation $NSC Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 7.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,968 shares of the railroad operator’s stock after selling 692 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Norfolk Southern were worth $2,295,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Norfolk Southern by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator’s stock valued at $4,813,114,000 after purchasing an additional 232,195 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after purchasing an additional 2,710,930 shares during the last quarter. Boston Partners raised its stake in Norfolk Southern by 3.4% in the 1st quarter. Boston Partners now owns 4,159,070 shares of the railroad operator’s stock valued at $983,161,000 after purchasing an additional 138,678 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in Norfolk Southern by 0.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator’s stock valued at $947,006,000 after purchasing an additional 29,753 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Norfolk Southern by 6.4% in the 1st quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator’s stock valued at $740,891,000 after purchasing an additional 189,076 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NSC. TD Cowen raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and boosted their target price for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Barclays upped their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Bank of America upped their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Royal Bank Of Canada downgraded shares of Norfolk Southern from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, July 29th. Finally, Evercore ISI upped their price objective on shares of Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $292.50.

Norfolk Southern Stock Down 1.2%

Shares of NYSE:NSC opened at $296.00 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The stock has a market capitalization of $66.49 billion, a P/E ratio of 20.00, a PEG ratio of 2.69 and a beta of 1.33. The stock has a 50-day simple moving average of $283.25 and a 200-day simple moving average of $256.85.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Equities analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a dividend of $1.35 per share. The ex-dividend date was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. Norfolk Southern’s payout ratio is presently 36.49%.

About Norfolk Southern

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.