NewEdge Advisors LLC Sells 14,310 Shares of Norfolk Southern Corporation $NSC

Key Points

• NewEdge Advisors reduced its Norfolk Southern stake by 32% in the first quarter, selling 14,310 shares and retaining 30,365 shares valued at approximately $8.7 million.
• Norfolk Southern reported quarterly earnings of $3.52 per share, exceeding analyst expectations, while revenue rose 12.5% year over year to $3.46 billion.
• The company declared a quarterly dividend of $1.35 per share, representing a $5.40 annualized payout and a 1.6% yield. Analysts maintain an overall “Hold” rating, with an average price target of $348.

NewEdge Advisors LLC lowered its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,365 shares of the railroad operator's stock after selling 14,310 shares during the quarter. NewEdge Advisors LLC's holdings in Norfolk Southern were worth $8,715,000 at the end of the most recent quarter.

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

Norfolk Southern Trading Up 0.2%

Shares of NSC opened at $334.86 on Monday. 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 $75.21 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 5.95 and a beta of 1.27. The firm has a 50 day moving average price of $322.11 and a 200-day moving average price of $309.80. 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 (NYSE:NSC - Get Free Report) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 EPS. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 12.6 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern's dividend payout ratio is currently 46.08%.

Analysts Set New Price Targets

A number of research firms have commented on NSC. Wells Fargo & Company boosted their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Evercore set a $358.00 target price on Norfolk Southern in a research note on Thursday, July 23rd. Stephens upgraded Norfolk Southern to a "hold" rating in a research report on Wednesday, July 8th. Finally, Benchmark reaffirmed a "hold" rating on shares of Norfolk Southern in a research note on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat, Norfolk Southern currently has an average rating of "Hold" and an average price target of $348.00.

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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