OLD Point Trust & Financial Services N A Sells 7,104 Shares of Norfolk Southern Corporation $NSC

Key Points

• OLD Point Trust & Financial Services N A reduced its stake in Norfolk Southern Corporation by 33.9%, selling 7,104 shares and holding 13,882 shares thereafter.
• Norfolk Southern reported quarterly earnings of $3.29 per share, surpassing analysts’ estimates, along with a net margin of 27.51% and revenue of $3.11 billion.
• The company recently declared a quarterly dividend of $1.35 per share, resulting in an annualized dividend yield of 1.8%.

OLD Point Trust & Financial Services N A lessened its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 33.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,882 shares of the railroad operator's stock after selling 7,104 shares during the period. Norfolk Southern accounts for 1.2% of OLD Point Trust & Financial Services N A's investment portfolio, making the stock its 26th biggest position. OLD Point Trust & Financial Services N A's holdings in Norfolk Southern were worth $3,553,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in Norfolk Southern in the 1st quarter worth $27,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern during the 1st quarter valued at about $35,000. Physician Wealth Advisors Inc. raised its stake in Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after buying an additional 84 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Norfolk Southern in the first quarter worth about $41,000. Finally, Golden State Wealth Management LLC raised its stake in Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock worth $42,000 after buying an additional 159 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

Shares of NSC opened at $300.34 on Wednesday. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $300.91. The stock has a market cap of $67.46 billion, a PE ratio of 20.29, a P/E/G ratio of 2.66 and a beta of 1.29. The firm has a 50-day simple moving average of $281.52 and a two-hundred day simple moving average of $254.60. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The business 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. As a group, analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed 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 was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. Norfolk Southern's payout ratio is 36.49%.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of research reports. Citigroup increased their price target on shares of Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Robert W. Baird raised their target price on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group reiterated a "hold" rating and set a $300.00 price target on shares of Norfolk Southern in a report on Friday, July 25th. Benchmark cut shares of Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and an average target price of $288.45.

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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