Glenview Trust co Reduces Position in Norfolk Southern Corporation $NSC

Key Points

• Glenview Trust Co reduced its stake in Norfolk Southern Corporation by 13.3%, holding 55,766 shares valued at $13.2 million after selling 8,575 shares in Q1.
• Norfolk Southern reported $3.29 earnings per share for the last quarter, exceeding analysts' expectations of $3.24, with revenues of $3.11 billion.
• The company announced a quarterly dividend of $1.35, translating to an annualized amount of $5.40 and a dividend yield of 2.0% as of August 1st.

Glenview Trust co lowered its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 13.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,766 shares of the railroad operator's stock after selling 8,575 shares during the quarter. Glenview Trust co's holdings in Norfolk Southern were worth $13,208,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NSC. Brighton Jones LLC increased its stake in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after acquiring an additional 79 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Norfolk Southern by 1.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 39,143 shares of the railroad operator's stock valued at $9,187,000 after acquiring an additional 431 shares in the last quarter. Gotham Asset Management LLC increased its stake in shares of Norfolk Southern by 77.8% in the 4th quarter. Gotham Asset Management LLC now owns 5,356 shares of the railroad operator's stock valued at $1,257,000 after acquiring an additional 2,343 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $2,843,000. Finally, Meketa Capital LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $360,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Up 0.3%

NSC traded up $0.90 during mid-day trading on Friday, reaching $274.90. 2,243,787 shares of the stock were exchanged, compared to its average volume of 1,923,360. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. The stock has a market capitalization of $61.75 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.43 and a beta of 1.29. The company has a 50 day moving average price of $276.13 and a two-hundred day moving average price of $250.29. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $291.69.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted 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. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

NSC has been the subject of several research analyst reports. Citigroup lifted their price objective on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lowered shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Jefferies Financial Group restated a "hold" rating and set a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. Bank of America boosted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, TD Cowen upgraded shares of Norfolk Southern from a "hold" rating to a "buy" rating and boosted their price target for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $285.15.

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.