Envestnet Portfolio Solutions Inc. Has $1.35 Million Holdings in Norfolk Southern Corporation $NSC

Envestnet Portfolio Solutions Inc. lowered its stake in Norfolk Southern Corporation (NYSE:NSC) by 10.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,259 shares of the railroad operator’s stock after selling 642 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Norfolk Southern were worth $1,346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in shares of Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock worth $42,000 after buying an additional 159 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Norfolk Southern by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator’s stock worth $16,925,000 after buying an additional 2,782 shares during the last quarter. GC Wealth Management RIA LLC lifted its position in shares of Norfolk Southern by 52.5% in the second quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock worth $1,137,000 after buying an additional 1,528 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Norfolk Southern by 4.6% in the second quarter. Sequoia Financial Advisors LLC now owns 76,057 shares of the railroad operator’s stock worth $19,468,000 after buying an additional 3,367 shares during the last quarter. Finally, Pioneer Wealth Management Group acquired a new stake in shares of Norfolk Southern in the second quarter worth about $385,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of a number of analyst reports. Robert W. Baird boosted their price target on Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Susquehanna lifted their price objective on Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Norfolk Southern from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Barclays lifted their price objective on Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Bank of America lifted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $293.80.

Norfolk Southern Trading Up 0.5%

Shares of NSC opened at $289.86 on Friday. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $65.11 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.59 and a beta of 1.33. The stock’s 50-day moving average price is $285.14 and its 200 day moving average price is $259.78.

Norfolk Southern (NYSE:NSC) last issued 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. 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. As a group, research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Friday, August 1st were paid a dividend of $1.35 per share. 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 currently 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.