Norfolk Southern Corporation $NSC Position Lessened by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Norfolk Southern Corporation by 0.9%, holding 182,904 shares valued at approximately $46.8 million as of its latest SEC filing.
• Equities analysts have set a range of new price targets for Norfolk Southern, with Bank of America raising their target to $305.00 and a consensus average target of $293.25.
• Norfolk Southern recently declared a quarterly dividend of $1.35 per share, reflecting an annualized dividend yield of 1.8%.

US Bancorp DE trimmed its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,904 shares of the railroad operator's stock after selling 1,593 shares during the period. US Bancorp DE owned about 0.08% of Norfolk Southern worth $46,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. WPG Advisers LLC purchased a new stake in shares of Norfolk Southern during the first quarter worth $27,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern during the first quarter worth $35,000. Physician Wealth Advisors Inc. raised its holdings in shares of Norfolk Southern by 129.2% during the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after acquiring an additional 84 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Norfolk Southern during the first quarter worth $41,000. Finally, Golden State Wealth Management LLC raised its holdings in Norfolk Southern by 883.3% during the first 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on NSC shares. Jefferies Financial Group restated a "hold" rating and set a $300.00 target price on shares of Norfolk Southern in a report on Friday, July 25th. Susquehanna raised their target price on Norfolk Southern from $284.00 to $295.00 and gave the company a "neutral" rating in a report on Thursday, September 25th. Loop Capital raised their target price on Norfolk Southern from $235.00 to $278.00 and gave the company a "hold" rating in a report on Tuesday, September 16th. Bank of America raised their target price on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Norfolk Southern in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern has an average rating of "Hold" and an average target price of $293.25.

Norfolk Southern Trading Down 0.7%

Shares of NYSE:NSC opened at $294.68 on Friday. The company has a market cap of $66.19 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.66 and a beta of 1.33. The stock's 50-day moving average is $283.93 and its 200-day moving average is $257.53. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.05. The company 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. Equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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