Norfolk Southern Corporation $NSC Shares Sold by Hanson & Doremus Investment Management

Key Points

• Hanson & Doremus Investment Management reduced its stake in Norfolk Southern Corporation by 60.2% during the second quarter, leaving the fund with 1,567 shares valued at $401,000.
• Multiple institutional investors, such as SeaCrest Wealth Management and Pinnacle Bancorp, have recently increased their stakes in Norfolk Southern, contributing to a current institutional ownership of 75.10%.
• Norfolk Southern's recent performance includes a better-than-expected quarterly earnings report with $3.29 earnings per share, surpassing estimates, and an announced quarterly dividend of $1.35.

Hanson & Doremus Investment Management reduced its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 60.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,567 shares of the railroad operator's stock after selling 2,374 shares during the quarter. Hanson & Doremus Investment Management's holdings in Norfolk Southern were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC increased its stake in Norfolk Southern by 1.7% in the second quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator's stock valued at $622,000 after purchasing an additional 40 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in Norfolk Southern by 30.5% in the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator's stock valued at $47,000 after purchasing an additional 43 shares during the last quarter. Canandaigua National Trust Co of Florida increased its stake in Norfolk Southern by 4.9% in the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock valued at $226,000 after purchasing an additional 45 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in Norfolk Southern by 1.8% during the first quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock valued at $605,000 after acquiring an additional 45 shares during the period. Finally, Certified Advisory Corp grew its position in Norfolk Southern by 1.0% during the first quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock valued at $1,100,000 after acquiring an additional 47 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NSC shares. Evercore ISI boosted their price target on Norfolk Southern from $289.00 to $298.00 in a research report on Thursday. JPMorgan Chase & Co. reissued a "neutral" rating and set a $288.00 price target (up previously from $282.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. TD Cowen raised 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 report on Monday, July 21st. Baird R W raised Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. Finally, Robert W. Baird boosted their price target on Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $288.45.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $297.61 on Monday. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $298.42. The business has a 50-day moving average of $280.68 and a 200-day moving average of $253.81. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. The company has a market capitalization of $66.85 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.64 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern's dividend payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.