Clear Harbor Asset Management LLC Reduces Stock Position in Norfolk Southern Corporation $NSC

Clear Harbor Asset Management LLC lowered its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,396 shares of the railroad operator’s stock after selling 65 shares during the period. Clear Harbor Asset Management LLC’s holdings in Norfolk Southern were worth $869,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Norfolk Southern by 883.3% in the 1st 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 in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Norfolk Southern by 1.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator’s stock worth $846,000 after purchasing an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in 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 worth $16,925,000 after purchasing an additional 2,782 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Norfolk Southern in the 2nd quarter worth $321,393,000. Finally, GAMMA Investing LLC raised its holdings in Norfolk Southern by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator’s stock worth $990,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 2.4%

Norfolk Southern stock opened at $290.60 on Tuesday. The stock has a market cap of $65.27 billion, a P/E ratio of 19.64, a PEG ratio of 2.52 and a beta of 1.29. 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 $294.78. The firm’s 50 day moving average price is $278.46 and its 200-day moving average price is $252.08.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations 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 analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm 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 of this dividend was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is 36.49%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $278.00 price objective on shares of Norfolk Southern in a report on Monday, June 2nd. Bank of America increased 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. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $288.00 price target (up from $282.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Evercore ISI reiterated an “in-line” rating and issued a $289.00 price target (up from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Finally, Barclays increased their price target on shares of Norfolk Southern from $290.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $286.25.

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.