HB Wealth Management LLC Trims Stock Holdings in Norfolk Southern Corporation $NSC

HB Wealth Management LLC decreased its holdings in Norfolk Southern Corporation (NYSE:NSC) by 25.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,409 shares of the railroad operator’s stock after selling 6,854 shares during the period. HB Wealth Management LLC’s holdings in Norfolk Southern were worth $5,224,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NSC. Price T Rowe Associates Inc. MD increased its stake in shares of Norfolk Southern by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock worth $2,680,910,000 after purchasing an additional 2,710,930 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Norfolk Southern in the second quarter worth about $321,393,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Norfolk Southern by 341.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock worth $187,100,000 after purchasing an additional 611,198 shares in the last quarter. Nuveen LLC purchased a new position in shares of Norfolk Southern in the first quarter worth about $122,256,000. Finally, Phoenix Financial Ltd. purchased a new position in shares of Norfolk Southern in the first quarter worth about $110,209,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NSC shares. TD Cowen raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and boosted their price objective for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Bank of America boosted 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. Susquehanna boosted their price objective on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Citigroup boosted their price objective on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird boosted their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $288.45.

Norfolk Southern Stock Up 0.2%

NYSE:NSC opened at $300.34 on Wednesday. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $300.91. The firm’s 50-day moving average price is $281.52 and its 200-day moving average price is $254.60. The company has a market capitalization of $67.46 billion, a PE ratio of 20.29, a P/E/G ratio of 2.66 and a beta of 1.29. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71.

Norfolk Southern (NYSE:NSC) last announced 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. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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