Norfolk Southern Corporation $NSC Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management trimmed its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 60.2% during the second quarter, Holdings Channel reports. The firm owned 1,567 shares of the railroad operator’s stock after selling 2,374 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Norfolk Southern were worth $401,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of NSC. Vanguard Group Inc. raised its position in shares of Norfolk Southern by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator’s stock worth $4,813,114,000 after purchasing an additional 232,195 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Norfolk Southern by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock worth $2,680,910,000 after purchasing an additional 2,710,930 shares during the period. Boston Partners raised its position in shares of Norfolk Southern by 3.4% during the 1st quarter. Boston Partners now owns 4,159,070 shares of the railroad operator’s stock worth $983,161,000 after purchasing an additional 138,678 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of Norfolk Southern by 0.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator’s stock worth $947,006,000 after purchasing an additional 29,753 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Norfolk Southern by 6.4% during the 1st quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator’s stock worth $740,891,000 after purchasing an additional 189,076 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NSC has been the topic of a number of research reports. Robert W. Baird increased their price target on Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Loop Capital raised their target price on Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research report on Tuesday, September 16th. Benchmark cut Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Barclays raised their target price on Norfolk Southern from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Citigroup increased their target price on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a “neutral” rating in a research report 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, the company has an average rating of “Hold” and an average price target of $288.45.

Norfolk Southern Stock Performance

NSC opened at $297.61 on Monday. The firm has a market cap of $66.85 billion, a PE ratio of 20.11, a P/E/G ratio of 2.64 and a beta of 1.29. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $280.68 and a 200-day simple moving average of $253.81. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $298.42.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.05. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern’s dividend payout ratio (DPR) is 36.49%.

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.