Norfolk Southern Corporation $NSC Shares Sold by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,448 shares of the railroad operator’s stock after selling 243 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Norfolk Southern were worth $627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NSC. Price T Rowe Associates Inc. MD increased its holdings in 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 worth $2,680,910,000 after buying an additional 2,710,930 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Norfolk Southern in the 2nd quarter worth approximately $321,393,000. Adage Capital Partners GP L.L.C. increased its holdings in Norfolk Southern by 341.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock worth $187,100,000 after buying an additional 611,198 shares during the period. Nuveen LLC acquired a new position in Norfolk Southern in the 1st quarter worth approximately $122,256,000. Finally, Phoenix Financial Ltd. acquired a new position in Norfolk Southern in the 1st quarter worth approximately $110,209,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

NSC has been the topic of several research reports. Citigroup increased their price target on shares of Norfolk Southern from $288.00 to $305.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Barclays raised their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Loop Capital raised their price objective on shares of Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a research note on Tuesday, September 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Norfolk Southern in a research note on Wednesday. Finally, Benchmark cut shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $293.25.

Norfolk Southern Trading Down 2.2%

Shares of NYSE:NSC opened at $288.34 on Friday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The firm has a market capitalization of $64.77 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth 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 business’s 50 day moving average price is $284.20 and its 200-day moving average price is $258.06.

Norfolk Southern (NYSE:NSC) last announced its 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. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.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. On average, equities research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were given a dividend of $1.35 per share. The ex-dividend date was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is 36.49%.

Norfolk Southern 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.