HORAN Wealth LLC Cuts Stake in Norfolk Southern Corporation $NSC

Key Points

• HORAN Wealth LLC cut its Norfolk Southern stake by 49.9% in the second quarter, selling 3,794 shares and retaining 3,812 shares valued at approximately $1.2 million. Institutional investors collectively own 75.1% of the company.
• Analyst sentiment remains mixed but improved targets point to potential upside: seven analysts rate NSC a Buy and 15 rate it a Hold, with a consensus price target of $348 versus a recent price of $329.07.
• Norfolk Southern exceeded quarterly expectations, reporting adjusted earnings of $3.52 per share and revenue of $3.46 billion, with revenue up 12.5% year over year. The company also pays a quarterly dividend of $1.35, yielding about 1.6% annually.

HORAN Wealth LLC lowered its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 49.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,812 shares of the railroad operator's stock after selling 3,794 shares during the period. HORAN Wealth LLC's holdings in Norfolk Southern were worth $1,199,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. grew its stake in shares of Norfolk Southern by 3.3% during the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator's stock valued at $318,000 after buying an additional 35 shares during the last quarter. Bar Harbor Wealth Management lifted its stake in shares of Norfolk Southern by 0.6% in the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator's stock valued at $1,805,000 after acquiring an additional 36 shares during the last quarter. Apollon Financial LLC lifted its stake in shares of Norfolk Southern by 4.3% in the 1st quarter. Apollon Financial LLC now owns 881 shares of the railroad operator's stock valued at $253,000 after acquiring an additional 36 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in Norfolk Southern by 4.6% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator's stock valued at $237,000 after acquiring an additional 36 shares during the period. Finally, CYBER HORNET ETFs LLC boosted its holdings in Norfolk Southern by 6.0% during the 4th quarter. CYBER HORNET ETFs LLC now owns 649 shares of the railroad operator's stock valued at $187,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on Norfolk Southern from $360.00 to $377.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Weiss Ratings raised Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 24th. Wells Fargo & Company raised their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. TD Cowen lifted their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Susquehanna upped their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $348.00.

Norfolk Southern Price Performance

Shares of NSC stock opened at $329.07 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60. The firm has a market cap of $73.91 billion, a P/E ratio of 28.08, a P/E/G ratio of 4.89 and a beta of 1.27. The business's 50 day moving average price is $335.43 and its 200-day moving average price is $315.67.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company earned $3.29 earnings per share. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 12.87 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern's dividend payout ratio is 46.08%.

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.

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