ZWJ Investment Counsel Inc. Sells 1,800 Shares of Norfolk Southern Corporation $NSC

Key Points

• ZWJ Investment Counsel Inc. has decreased its stake in Norfolk Southern Corporation by 22.5%, selling 1,800 shares and retaining 6,214 shares valued at approximately $1.59 million.
• Norfolk Southern reported earnings per share (EPS) of $3.29 for the last quarter, surpassing the consensus estimate of $3.24, with revenues of $3.11 billion.
• The company recently declared a quarterly dividend of $1.35, providing an annualized dividend yield of 1.8% and a payout ratio of 36.49%.

ZWJ Investment Counsel Inc. reduced its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 22.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,214 shares of the railroad operator's stock after selling 1,800 shares during the quarter. ZWJ Investment Counsel Inc.'s holdings in Norfolk Southern were worth $1,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Norfolk Southern by 1.2% in the first quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator's stock valued at $4,813,114,000 after purchasing an additional 232,195 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Norfolk Southern by 31.5% in the first 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 purchasing an additional 2,710,930 shares in the last quarter. Boston Partners raised its stake in Norfolk Southern by 3.4% in the first quarter. Boston Partners now owns 4,159,070 shares of the railroad operator's stock valued at $983,161,000 after purchasing an additional 138,678 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Norfolk Southern by 0.7% in the first quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator's stock valued at $947,006,000 after purchasing an additional 29,753 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Norfolk Southern by 6.4% in the first quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator's stock valued at $740,891,000 after purchasing an additional 189,076 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Up 0.6%

Shares of NYSE NSC opened at $300.02 on Friday. 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 Corporation has a 52 week low of $201.63 and a 52 week high of $302.24. The firm's fifty day moving average is $282.63 and its 200 day moving average is $255.79. The company has a market cap of $67.39 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.64 and a beta of 1.33.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping the consensus estimate of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Norfolk Southern Corporation will post 13 earnings per share 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. The ex-dividend date was Friday, August 1st. This represents a $5.40 annualized dividend and a yield of 1.8%. Norfolk Southern's payout ratio is 36.49%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NSC. Deutsche Bank Aktiengesellschaft raised their target price on shares of Norfolk Southern from $290.00 to $354.00 and gave the company a "buy" rating in a research note on Wednesday. Baird R W raised shares of Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. Bank of America lifted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Susquehanna lifted their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and a consensus price target of $292.50.

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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