Stock Yards Bank & Trust Co. Sells 1,069 Shares of Norfolk Southern Corporation $NSC

Stock Yards Bank & Trust Co. cut its stake in Norfolk Southern Corporation (NYSE:NSC) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,709 shares of the railroad operator’s stock after selling 1,069 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Norfolk Southern were worth $3,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. WPG Advisers LLC bought a new stake in shares of Norfolk Southern in the 1st quarter valued at about $27,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern in the 1st quarter valued at about $35,000. Physician Wealth Advisors Inc. increased its stake in shares of Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock valued at $35,000 after acquiring an additional 84 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Norfolk Southern in the 1st quarter valued at about $41,000. Finally, Golden State Wealth Management LLC grew its position in shares of Norfolk Southern by 883.3% in the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the period. 75.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NSC. Loop Capital boosted their price objective on Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research report on Tuesday, September 16th. Citigroup boosted their price objective on Norfolk Southern from $288.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Bank of America boosted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Norfolk Southern in a research report on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average target price of $292.50.

Norfolk Southern Trading Up 0.6%

NYSE:NSC opened at $300.02 on Friday. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve 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 business has a 50 day moving average price of $282.63 and a two-hundred day moving average price of $255.79. The company has a market cap of $67.39 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.33.

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

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern’s dividend payout ratio is presently 36.49%.

Norfolk Southern Company 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.