Fifth Third Bancorp Reduces Position in Norfolk Southern Corporation $NSC

Key Points

• Fifth Third Bancorp has reduced its stake in Norfolk Southern Corporation by 3.7%, now holding 108,344 shares valued at approximately $27.7 million.
• Several analysts have increased their price targets for Norfolk Southern, with Bank of America raising it to $305.00, while consensus currently suggests a target price of $286.25.
• Norfolk Southern announced a quarterly dividend of $1.35, yielding 1.8%, with a dividend payout ratio of 36.49%.

Fifth Third Bancorp trimmed its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,344 shares of the railroad operator's stock after selling 4,195 shares during the period. Fifth Third Bancorp's holdings in Norfolk Southern were worth $27,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. WPG Advisers LLC bought a new position in shares of Norfolk Southern during the 1st quarter valued at approximately $27,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the first quarter worth approximately $35,000. Physician Wealth Advisors Inc. increased its stake in shares of Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after purchasing an additional 84 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Norfolk Southern during the 1st quarter valued at $41,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after buying an additional 159 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays raised their price target on Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Robert W. Baird boosted their price target on Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Bank of America increased their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 target price on shares of Norfolk Southern in a research note on Monday, June 2nd. Finally, Citigroup boosted their price target on shares of Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $286.25.

Norfolk Southern Trading Up 0.5%

NSC opened at $293.47 on Thursday. The stock has a 50-day moving average of $279.77 and a 200 day moving average of $252.64. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $296.38. The firm has a market cap of $65.92 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.59 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate 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. As a group, research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

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