TD Asset Management Inc Decreases Stake in Norfolk Southern Corporation $NSC

TD Asset Management Inc decreased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 84,364 shares of the railroad operator’s stock after selling 688 shares during the quarter. TD Asset Management Inc’s holdings in Norfolk Southern were worth $21,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. WPG Advisers LLC purchased a new stake in Norfolk Southern during the 1st quarter valued at about $27,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern in the first quarter valued at approximately $35,000. Physician Wealth Advisors Inc. increased its holdings in shares of Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock valued at $35,000 after purchasing an additional 84 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Norfolk Southern in the first quarter valued at approximately $41,000. Finally, Golden State Wealth Management LLC lifted its position in Norfolk Southern by 883.3% during 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 in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.5%

NYSE NSC opened at $289.86 on Friday. 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 stock has a market capitalization of $65.11 billion, a P/E ratio of 19.59, a PEG ratio of 2.59 and a beta of 1.33. The firm’s 50-day moving average is $285.14 and its two-hundred day moving average is $259.78. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24.

Norfolk Southern (NYSE:NSC) last released its quarterly 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. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Norfolk Southern has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared 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. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.49%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NSC shares. Evercore ISI lifted their price target on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Susquehanna lifted their target price on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. TD Cowen raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and increased their price target for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Benchmark lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $293.80.

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.