Truist Financial Corp Lowers Stake in Norfolk Southern Corporation $NSC

Truist Financial Corp lowered its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 4.8% in the second quarter, HoldingsChannel.com reports. The firm owned 225,893 shares of the railroad operator’s stock after selling 11,508 shares during the period. Truist Financial Corp’s holdings in Norfolk Southern were worth $57,822,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position 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 valued at $42,000 after buying an additional 159 shares during the period. Dynamic Advisor Solutions LLC boosted its position 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 valued at $846,000 after buying an additional 65 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position 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 valued at $16,925,000 after buying an additional 2,782 shares during the period. GC Wealth Management RIA LLC boosted its position in Norfolk Southern by 52.5% in the 2nd quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock valued at $1,137,000 after buying an additional 1,528 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Norfolk Southern in the 2nd quarter valued at approximately $321,393,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $298.60 on Thursday. The company’s fifty day moving average price is $281.89 and its 200 day moving average price is $254.90. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $300.91. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. The firm 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.

Norfolk Southern (NYSE:NSC) last announced its quarterly 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 firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were paid a $1.35 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s payout ratio is currently 36.49%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank Of Canada cut shares of Norfolk Southern from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, July 29th. Barclays lifted their price objective on shares of Norfolk Southern from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. TD Cowen raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $263.00 to $323.00 in a research report on Monday, July 21st. Susquehanna lifted their price objective on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Finally, Robert W. Baird lifted their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $288.45.

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.