BankPlus Trust Department Cuts Holdings in Norfolk Southern Corporation $NSC

BankPlus Trust Department lessened its stake in Norfolk Southern Corporation (NYSE:NSC) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,840 shares of the railroad operator’s stock after selling 47 shares during the period. BankPlus Trust Department’s holdings in Norfolk Southern were worth $471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 acquiring an additional 2,710,930 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $321,393,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 acquiring an additional 611,198 shares during the last quarter. Nuveen LLC bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $122,256,000. Finally, Phoenix Financial Ltd. bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $110,209,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.2%

Shares of NYSE NSC opened at $296.00 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The firm has a market capitalization of $66.49 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.69 and a beta of 1.33. The firm has a fifty day simple moving average of $283.25 and a two-hundred day simple moving average of $256.85.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping the consensus estimate of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The business 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. Equities analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

NSC has been the subject of a number of recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $300.00 price objective on shares of Norfolk Southern in a report on Friday, July 25th. Benchmark lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Robert W. Baird upped their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Evercore ISI upped their price target on shares of Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $288.00 price target (up from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Eight investment 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 presently has an average rating of “Hold” and an average target price of $292.50.

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.