Verdence Capital Advisors LLC Sells 19,586 Shares of Norfolk Southern Corporation $NSC

Key Points

• Verdence Capital Advisors LLC has reduced its stake in Norfolk Southern Corporation by 55.2%, selling 19,586 shares in the second quarter, leaving it with 15,880 shares valued at approximately $4.07 million.
• Several hedge funds have significantly increased their holdings in Norfolk Southern, with notable increases including a 883.3% increase by Golden State Wealth Management LLC during the first quarter.
• Analyst sentiments are mixed, with Barclays raising its price target to $320 and 14 analysts giving the stock a "Hold" rating, indicating cautious optimism about Norfolk Southern’s future performance.

Verdence Capital Advisors LLC trimmed its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 55.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 15,880 shares of the railroad operator's stock after selling 19,586 shares during the quarter. Verdence Capital Advisors LLC's holdings in Norfolk Southern were worth $4,065,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Golden State Wealth Management LLC lifted its position in Norfolk Southern by 883.3% during the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock worth $42,000 after purchasing an additional 159 shares during the period. Dynamic Advisor Solutions LLC raised its position in shares of Norfolk Southern by 1.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock valued at $846,000 after buying an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Norfolk Southern by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock valued at $16,925,000 after buying an additional 2,782 shares in the last quarter. GC Wealth Management RIA LLC lifted its holdings in shares of Norfolk Southern by 52.5% during the 2nd quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator's stock worth $1,137,000 after acquiring an additional 1,528 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $321,393,000. Institutional investors own 75.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays boosted their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Baird R W upgraded Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. Evercore ISI upped their price objective on Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Robert W. Baird raised their price objective on Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Royal Bank Of Canada downgraded Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Eight research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, Norfolk Southern has an average rating of "Hold" and a consensus target price of $293.25.

Norfolk Southern Price Performance

Shares of NSC opened at $288.34 on Monday. The business has a 50-day simple moving average of $284.20 and a two-hundred day simple moving average of $258.21. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. The stock has a market cap of $64.77 billion, a PE ratio of 19.48, a PEG ratio of 2.59 and a beta of 1.33. The company has a quick ratio of 0.71, a current ratio of 0.79 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, 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 analyst estimates of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.9%. Norfolk Southern's dividend payout ratio is presently 36.49%.

Norfolk Southern 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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC - Free Report).

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.