Norfolk Southern Corporation $NSC Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,364 shares of the railroad operator’s stock after selling 688 shares during the quarter. TD Asset Management Inc’s holdings in Norfolk Southern were worth $21,595,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. WPG Advisers LLC acquired a new stake in shares of Norfolk Southern in the first quarter worth $27,000. HWG Holdings LP purchased a new stake in Norfolk Southern in the first quarter valued at $35,000. Physician Wealth Advisors Inc. grew its position in Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock worth $35,000 after purchasing an additional 84 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Norfolk Southern during the 1st quarter valued at about $41,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of 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. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NSC has been the topic of several analyst reports. Benchmark lowered Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Royal Bank Of Canada cut shares of Norfolk Southern from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft boosted 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, October 1st. TD Cowen raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and lifted their price objective for the company from $263.00 to $323.00 in a report on Monday, July 21st. Finally, Sanford C. Bernstein upped their price objective on shares of Norfolk Southern from $295.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $293.80.

Norfolk Southern Trading Up 0.5%

Shares of NSC stock opened at $289.86 on Friday. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The company has a market cap of $65.11 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.59 and a beta of 1.33. 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 stock has a 50 day simple moving average of $285.14 and a 200-day simple moving average of $259.78.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results 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. 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 research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Friday, August 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, August 1st. Norfolk Southern’s payout ratio is presently 36.49%.

About Norfolk Southern

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.