Geneos Wealth Management Inc. Sells 3,163 Shares of Norfolk Southern Corporation $NSC

Key Points

• Geneos Wealth Management Inc. reduced its holdings in Norfolk Southern Corporation by 4.9% in the first quarter, now owning 61,517 shares worth approximately $14.57 million.
• Norfolk Southern's stock reported a 0.8% decrease, with shares trading at $273.48, while it has a 1-year high of $291.69.
• The company declared a quarterly dividend of $1.35 per share, representing an annualized dividend of $5.40 and a dividend yield of 2.0%.

Geneos Wealth Management Inc. decreased its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,517 shares of the railroad operator's stock after selling 3,163 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Norfolk Southern were worth $14,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC raised its stake in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock valued at $1,527,000 after purchasing an additional 1,855 shares during the period. Focus Partners Wealth grew its holdings in shares of Norfolk Southern by 2.8% in the 1st quarter. Focus Partners Wealth now owns 115,417 shares of the railroad operator's stock valued at $27,337,000 after acquiring an additional 3,163 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Norfolk Southern in the 1st quarter valued at about $78,000. Anchor Investment Management LLC grew its holdings in shares of Norfolk Southern by 1.8% in the 1st quarter. Anchor Investment Management LLC now owns 14,476 shares of the railroad operator's stock valued at $3,429,000 after acquiring an additional 259 shares in the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of Norfolk Southern in the 1st quarter valued at about $2,848,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Shares of NYSE:NSC traded up $0.90 during trading on Friday, reaching $274.90. 2,243,787 shares of the stock were exchanged, compared to its average volume of 1,923,360. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $291.69. The firm has a market cap of $61.75 billion, a PE ratio of 18.57, a PEG ratio of 2.43 and a beta of 1.29. The stock has a 50-day moving average price of $276.13 and a 200-day moving average price of $250.29. 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 (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, topping 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 company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Friday, August 1st were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 1st. Norfolk Southern's payout ratio is 36.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup raised their price objective on Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Bank of America raised their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. UBS Group lifted their price target on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a report on Friday, May 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $288.00 price target (up previously from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Finally, Benchmark cut Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $285.15.

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.