Norfolk Southern Corporation $NSC Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,754 shares of the railroad operator’s stock after selling 200 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Norfolk Southern were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NSC. Price T Rowe Associates Inc. MD boosted its holdings 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 worth $2,680,910,000 after purchasing an additional 2,710,930 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Norfolk Southern in the second quarter valued at $321,393,000. Adage Capital Partners GP L.L.C. lifted its stake in Norfolk Southern by 341.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock valued at $187,100,000 after buying an additional 611,198 shares during the last quarter. Nuveen LLC bought a new stake in Norfolk Southern in the first quarter valued at $122,256,000. Finally, Phoenix Financial Ltd. bought a new stake in shares of Norfolk Southern during the first quarter valued at about $110,209,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 2.2%

Shares of Norfolk Southern stock opened at $288.34 on Friday. The firm has a market cap of $64.77 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 2.65 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. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24. The stock has a 50-day simple moving average of $284.20 and a 200-day simple moving average of $257.90.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results 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 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. On average, equities research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business 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. 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 36.49%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Robert W. Baird lifted their target price on Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on Norfolk Southern from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Evercore ISI lifted their target price on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $293.25.

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.