Conning Inc. Lowers Position in Norfolk Southern Corporation $NSC

Conning Inc. decreased its stake in Norfolk Southern Corporation (NYSE:NSC) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,728 shares of the railroad operator’s stock after selling 66 shares during the quarter. Conning Inc.’s holdings in Norfolk Southern were worth $442,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC purchased a new stake in Norfolk Southern in the 1st quarter worth approximately $27,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the first quarter worth approximately $35,000. Physician Wealth Advisors Inc. increased its stake in shares of Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock worth $35,000 after purchasing an additional 84 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Norfolk Southern in the first quarter worth $41,000. Finally, Golden State Wealth Management LLC raised its position in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the period. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NSC shares. Baird R W upgraded Norfolk Southern to a “hold” rating in a research note on Tuesday, July 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Norfolk Southern in a research note on Wednesday. Royal Bank Of Canada downgraded Norfolk Southern from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on Norfolk Southern from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Loop Capital increased their price objective on shares of Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a report on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $293.25.

Norfolk Southern Stock Down 2.2%

NYSE NSC opened at $288.34 on Friday. The stock has a 50 day moving average price of $284.20 and a 200-day moving average price of $258.06. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $302.24. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. The company has a market capitalization of $64.77 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.59 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, beating the consensus estimate of $3.24 by $0.05. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio is currently 36.49%.

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.