Abound Wealth Management Sells 1,647 Shares of Norfolk Southern Corporation $NSC

Key Points

• Abound Wealth Management has reduced its holdings in Norfolk Southern Corporation by 91.0%, selling 1,647 shares, leaving the firm with only 163 shares valued at approximately $42,000.
• Analysts have recently raised price targets for Norfolk Southern, with Sanford C. Bernstein increasing their target from $295.00 to $305.00, and Bank of America also boosting their target to $305.00, reflecting a positive outlook on the stock.
• Norfolk Southern's latest earnings report revealed an EPS of $3.29, surpassing estimates, coupled with a quarterly dividend of $1.35, yielding an annualized 1.9% for investors.

Abound Wealth Management lessened its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 91.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163 shares of the railroad operator's stock after selling 1,647 shares during the quarter. Abound Wealth Management's holdings in Norfolk Southern were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Park Avenue Securities LLC bought a new stake in shares of Norfolk Southern in the second quarter valued at about $1,673,000. BTC Capital Management Inc. boosted its position in shares of Norfolk Southern by 0.9% in the second quarter. BTC Capital Management Inc. now owns 38,349 shares of the railroad operator's stock valued at $9,774,000 after acquiring an additional 354 shares during the period. Grant Private Wealth Management Inc bought a new stake in shares of Norfolk Southern in the second quarter valued at about $210,000. CX Institutional boosted its position in shares of Norfolk Southern by 25.3% in the second quarter. CX Institutional now owns 1,724 shares of the railroad operator's stock valued at $441,000 after acquiring an additional 348 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Norfolk Southern by 30.5% in the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator's stock valued at $47,000 after acquiring an additional 43 shares during the period. Institutional investors own 75.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NSC. Sanford C. Bernstein boosted their target price on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. UBS Group boosted their price target on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Loop Capital boosted their price target on Norfolk Southern from $235.00 to $278.00 and gave the company a "hold" rating in a research note on Tuesday, September 16th. Evercore ISI reaffirmed an "in-line" rating and issued a $289.00 price target (up previously from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Finally, Bank of America boosted their price target on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of "Hold" and a consensus price target of $286.25.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $283.94 on Friday. The business's 50 day simple moving average is $277.90 and its 200 day simple moving average is $251.66. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $291.69. The stock has a market capitalization of $63.78 billion, a PE ratio of 19.19, a PEG ratio of 2.52 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 - Get Free Report) last announced its earnings results 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 return on equity of 19.35% and a net margin of 27.51%.The business had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Norfolk Southern Company 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.

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