SummitTX Capital L.P. Sells 29,571 Shares of Norfolk Southern Corporation $NSC

SummitTX Capital L.P. trimmed its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 35.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,121 shares of the railroad operator’s stock after selling 29,571 shares during the period. SummitTX Capital L.P.’s holdings in Norfolk Southern were worth $15,246,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NSC. Brighton Jones LLC lifted its position in shares of Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after buying an additional 79 shares in the last quarter. Intech Investment Management LLC grew its holdings in Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after buying an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Norfolk Southern in the 2nd quarter worth approximately $327,000. Schnieders Capital Management LLC. increased its stake in Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC boosted its position in shares of Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after acquiring an additional 2,979 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Trending Headlines about Norfolk Southern

Here are the key news stories impacting Norfolk Southern this week:

• Positive Sentiment: Norfolk Southern beat Q2 expectations, posting $3.52 in EPS and revenue above estimates, with revenue up 12.5% year over year and record quarterly sales. Reuters article
• Positive Sentiment: Wells Fargo raised its price target to $385 and reiterated an overweight rating, signaling confidence that the stock still has room to run. Benzinga article
• Positive Sentiment: Citigroup lifted its target to $376, reflecting a more constructive view after the earnings release, even though it kept a neutral rating. Benzinga article
• Neutral Sentiment: JPMorgan raised its target to $338 but maintained a neutral rating, suggesting valuation looks less compelling after the recent move higher. Benzinga article
• Neutral Sentiment: Some commentary noted lower profitability and margin pressure despite the revenue beat, which may temper enthusiasm if cost pressures persist. Seeking Alpha article
• Negative Sentiment: Profitability was held back by higher fuel costs and lower efficiency, showing that cost inflation remains a headwind even as demand improves. TipRanks article

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NSC shares. Barclays lifted their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday. TD Cowen upped their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research report on Friday. Rothschild & Co Redburn increased their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price target on Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Robert W. Baird boosted their price objective on Norfolk Southern from $330.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $344.35.

Norfolk Southern Stock Up 0.3%

NYSE NSC opened at $351.69 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The firm has a market capitalization of $78.99 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 6.32 and a beta of 1.27. The company has a fifty day moving average of $317.37 and a two-hundred day moving average of $306.29.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.29 earnings per share. On average, analysts predict that Norfolk Southern Corporation will post 12.42 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s dividend payout ratio is 46.08%.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.