Trust Co. of Toledo NA OH Reduces Position in Norfolk Southern Corporation $NSC

Trust Co. of Toledo NA OH reduced its stake in Norfolk Southern Corporation (NYSE:NSC) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,338 shares of the railroad operator’s stock after selling 790 shares during the quarter. Norfolk Southern makes up approximately 0.9% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 26th largest position. Trust Co. of Toledo NA OH’s holdings in Norfolk Southern were worth $7,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Norfolk Southern by 1.2% during the first quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator’s stock worth $4,813,114,000 after acquiring an additional 232,195 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after purchasing an additional 2,710,930 shares during the last quarter. Boston Partners grew its holdings 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 holdings in Norfolk Southern by 0.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator’s stock valued at $947,006,000 after buying an additional 29,753 shares during the period. Finally, American Century Companies Inc. lifted its position in Norfolk Southern by 6.4% in the first quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator’s stock valued at $740,891,000 after buying an additional 189,076 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 2.2%

Shares of NSC stock opened at $288.34 on Friday. The company has a market capitalization of $64.77 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 2.65 and a beta of 1.33. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $284.20 and its two-hundred day moving average is $257.90. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24.

Norfolk Southern (NYSE:NSC) last announced 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. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Equities analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup raised their price target on Norfolk Southern from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Bank of America raised their target price on Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Norfolk Southern in a research report on Wednesday. Robert W. Baird lifted their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada lowered shares of Norfolk Southern from a “moderate buy” rating to a “hold” rating in a report on Tuesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $293.25.

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.