NewEdge Wealth LLC Sells 1,898 Shares of Norfolk Southern Corporation $NSC

NewEdge Wealth LLC reduced its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,105 shares of the railroad operator’s stock after selling 1,898 shares during the quarter. NewEdge Wealth LLC’s holdings in Norfolk Southern were worth $4,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPL Wealth Management LLC bought a new stake in Norfolk Southern during the 3rd quarter worth approximately $25,000. BNP Paribas bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its holdings in shares of Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Financial Life Planners purchased a new position in shares of Norfolk Southern during the first quarter valued at approximately $33,000. Finally, Bayban purchased a new position in shares of Norfolk Southern during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NSC shares. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Robert W. Baird upped their target price on shares of Norfolk Southern from $330.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. lowered their target price on shares of Norfolk Southern from $331.00 to $316.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Jefferies Financial Group dropped their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Rothschild & Co Redburn boosted their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $331.29.

Norfolk Southern News Summary

Here are the key news stories impacting Norfolk Southern this week:

• Positive Sentiment: Norfolk Southern reported second-quarter adjusted earnings of $3.52 per share, topping estimates, while revenue rose to a record roughly $3.5 billion and increased 12.5% year over year. Article: Norfolk Southern (NSC) Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management pointed to stronger freight demand, higher fuel surcharges, volume growth, and intermodal gains as key drivers of the quarter, which helped boost investor confidence in operating momentum. Article: Norfolk Southern rides freight demand, fuel surcharges to quarterly profit beat
• Positive Sentiment: The company said it achieved record quarterly revenue, and several outlets noted the stock rose as the revenue surge and earnings beat outweighed margin compression. Article: Norfolk Southern Stock Rises as Revenue Surge Offsets Margin Compression
• Neutral Sentiment: Norfolk Southern also announced a quarterly dividend of $1.35 per share, reinforcing shareholder returns but not changing the main earnings-driven stock move. Article: Norfolk Southern earnings report and conference call

Norfolk Southern Stock Performance

Shares of NSC opened at $347.70 on Friday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The stock’s fifty day moving average price is $316.67 and its two-hundred day moving average price is $305.84. The firm has a market cap of $78.09 billion, a PE ratio of 29.29, a PEG ratio of 6.05 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.29 EPS. On average, equities research analysts forecast that Norfolk Southern Corporation will post 12.24 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s dividend payout ratio is presently 45.49%.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.