Truist Financial Corp Decreases Position in Norfolk Southern Corporation $NSC

Key Points

• Truist Financial Corp has reduced its stake in Norfolk Southern Corporation by 4.8%, now holding 225,893 shares valued at approximately $57.82 million.
• Norfolk Southern has recently declared a quarterly dividend of $1.35 per share, amounting to an annualized yield of 1.8% with a payout ratio of 36.49%.
• Norfolk Southern's stock is currently down 0.6%, with analysts providing a consensus rating of "Hold" and an average price target of $288.45.

Truist Financial Corp cut its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,893 shares of the railroad operator's stock after selling 11,508 shares during the quarter. Truist Financial Corp owned approximately 0.10% of Norfolk Southern worth $57,822,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NSC. Price T Rowe Associates Inc. MD lifted its stake in Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator's stock valued at $2,680,910,000 after buying an additional 2,710,930 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Norfolk Southern in the 2nd quarter valued at about $321,393,000. Adage Capital Partners GP L.L.C. raised its holdings in Norfolk Southern by 341.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator's stock valued at $187,100,000 after acquiring an additional 611,198 shares during the last quarter. Nuveen LLC acquired a new stake in Norfolk Southern in the 1st quarter valued at about $122,256,000. Finally, Phoenix Financial Ltd. acquired a new stake in Norfolk Southern in the 1st quarter valued at about $110,209,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Down 0.6%

Shares of NYSE NSC opened at $298.60 on Thursday. The company has a 50 day simple moving average of $281.89 and a 200-day simple moving average of $254.90. The company has a market capitalization of $67.07 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.66 and a beta of 1.33. 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 Corporation has a 1 year low of $201.63 and a 1 year high of $300.91.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The business had revenue of $3.11 billion during 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. On average, equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Friday, August 1st were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.49%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Baird R W upgraded shares of Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Susquehanna increased their price objective on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a "neutral" rating in a report on Thursday, September 25th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $288.00 price objective (up previously from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Evercore ISI increased their price objective on shares of Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Finally, Bank of America raised their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, Norfolk Southern has a consensus rating of "Hold" and an average price target of $288.45.

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.

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