E. Ohman J or Asset Management AB Sells 1,206 Shares of Norfolk Southern Corporation $NSC

Key Points

• E. Ohman J or Asset Management AB reduced its stake in Norfolk Southern Corporation by 29.4%, selling 1,206 shares, now holding 2,900 shares valued at approximately $742,000.
• Several institutional investors have increased their holdings in Norfolk Southern, with 75.10% of the stock currently owned by institutions, showing a mix of substantial increases and new positions.
• Norfolk Southern reported earnings of $3.29 per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $1.35 per share with a dividend yield of 1.9%.

E. Ohman J or Asset Management AB cut its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 29.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,900 shares of the railroad operator's stock after selling 1,206 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Norfolk Southern were worth $742,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock worth $42,000 after purchasing an additional 159 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of Norfolk Southern by 1.9% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock valued at $846,000 after acquiring an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Norfolk Southern by 4.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock valued at $16,925,000 after acquiring an additional 2,782 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Norfolk Southern by 8.3% during the first quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock valued at $990,000 after acquiring an additional 321 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Norfolk Southern during the first quarter valued at about $1,042,000. 75.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NSC. Citigroup upped their price objective on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Jefferies Financial Group restated a "hold" rating and set a $300.00 price objective on shares of Norfolk Southern in a report on Friday, July 25th. Benchmark downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Barclays upped their price objective on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Sanford C. Bernstein upped their target price on Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of "Hold" and a consensus price target of $285.15.

Norfolk Southern Trading Up 0.8%

Shares of NYSE:NSC opened at $277.03 on Tuesday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $291.69. The firm has a market capitalization of $62.23 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 2.44 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. The business's 50 day moving average price is $276.47 and its 200-day moving average price is $250.63.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were given a dividend of $1.35 per share. The ex-dividend date was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern's dividend payout ratio (DPR) 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.

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