Atlantic Edge Private Wealth Management LLC Trims Holdings in Norfolk Southern Corporation $NSC

Atlantic Edge Private Wealth Management LLC trimmed its position in Norfolk Southern Corporation (NYSE:NSC) by 4.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,425 shares of the railroad operator’s stock after selling 100 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Norfolk Southern were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in Norfolk Southern by 883.3% in the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock worth $42,000 after acquiring an additional 159 shares in the last quarter. Morningstar Investment Management LLC purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $597,000. Wealth Enhancement Advisory Services LLC grew its holdings in Norfolk Southern by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator’s stock valued at $16,925,000 after buying an additional 2,782 shares in the last quarter. GC Wealth Management RIA LLC grew its holdings in Norfolk Southern by 52.5% during the 2nd quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock valued at $1,137,000 after buying an additional 1,528 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Norfolk Southern by 4.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,057 shares of the railroad operator’s stock valued at $19,468,000 after buying an additional 3,367 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NSC. Barclays increased their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 price objective on shares of Norfolk Southern in a report on Friday, July 25th. TD Cowen raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and increased their price objective for the company from $263.00 to $323.00 in a report on Monday, July 21st. Baird R W raised shares of Norfolk Southern to a “hold” rating in a report on Tuesday, July 1st. Finally, Bank of America increased their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $293.80.

Norfolk Southern Trading Up 0.4%

NSC stock opened at $290.91 on Tuesday. The firm has a fifty day moving average price of $285.39 and a 200 day moving average price of $260.77. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. The firm has a market cap of $65.34 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

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.