Greenleaf Trust Sells 723 Shares of Norfolk Southern Corporation $NSC

Greenleaf Trust lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 9.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,874 shares of the railroad operator’s stock after selling 723 shares during the quarter. Greenleaf Trust’s holdings in Norfolk Southern were worth $1,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. LexAurum Advisors LLC grew its holdings in Norfolk Southern by 3.3% during the 2nd quarter. LexAurum Advisors LLC now owns 1,453 shares of the railroad operator’s stock valued at $372,000 after buying an additional 46 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Norfolk Southern by 0.5% during the second quarter. Janney Montgomery Scott LLC now owns 105,809 shares of the railroad operator’s stock worth $27,084,000 after purchasing an additional 490 shares in the last quarter. Venture Visionary Partners LLC increased its position in shares of Norfolk Southern by 8.8% in the second quarter. Venture Visionary Partners LLC now owns 4,309 shares of the railroad operator’s stock worth $1,103,000 after purchasing an additional 349 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in shares of Norfolk Southern in the second quarter worth approximately $204,000. Finally, GC Wealth Management RIA LLC increased its position in shares of Norfolk Southern by 52.5% in the second quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock worth $1,137,000 after purchasing an additional 1,528 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $300.34 on Wednesday. The firm has a market cap of $67.46 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.66 and a beta of 1.29. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $300.91. 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 business has a 50 day moving average price of $281.52 and a 200-day moving average price of $254.60.

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

Norfolk Southern Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on NSC. Robert W. Baird upped their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Benchmark cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Bank of America upped their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $288.00 price objective (up from $282.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada cut shares of Norfolk Southern from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $288.45.

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.