NewEdge Wealth LLC Has $4.91 Million Stock Position in Norfolk Southern Corporation $NSC

NewEdge Wealth LLC lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,105 shares of the railroad operator’s stock after selling 1,898 shares during the quarter. NewEdge Wealth LLC’s holdings in Norfolk Southern were worth $4,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NSC. Brighton Jones LLC increased its stake in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after acquiring an additional 79 shares during the period. Intech Investment Management LLC raised its holdings in Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at $327,000. Schnieders Capital Management LLC. lifted its position in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after acquiring an additional 1,670 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Norfolk Southern

Here are the key news stories impacting Norfolk Southern this week:

• Positive Sentiment: Norfolk Southern reported second-quarter adjusted earnings of $3.52 per share, topping estimates, while revenue rose to a record roughly $3.5 billion and increased 12.5% year over year. Article: Norfolk Southern (NSC) Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management pointed to stronger freight demand, higher fuel surcharges, volume growth, and intermodal gains as key drivers of the quarter, which helped boost investor confidence in operating momentum. Article: Norfolk Southern rides freight demand, fuel surcharges to quarterly profit beat
• Positive Sentiment: The company said it achieved record quarterly revenue, and several outlets noted the stock rose as the revenue surge and earnings beat outweighed margin compression. Article: Norfolk Southern Stock Rises as Revenue Surge Offsets Margin Compression
• Neutral Sentiment: Norfolk Southern also announced a quarterly dividend of $1.35 per share, reinforcing shareholder returns but not changing the main earnings-driven stock move. Article: Norfolk Southern earnings report and conference call

Norfolk Southern Trading Up 5.1%

NSC opened at $347.70 on Friday. The company has a fifty day moving average price of $316.67 and a two-hundred day moving average price of $305.84. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The company has a market cap of $78.09 billion, a P/E ratio of 29.29, a price-to-earnings-growth ratio of 6.05 and a beta of 1.27. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the firm earned $3.29 EPS. The business’s revenue was up 12.5% on a year-over-year basis. Analysts predict that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be issued a $1.35 dividend. The ex-dividend date is Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern’s dividend payout ratio is presently 45.49%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Robert W. Baird raised their price target on Norfolk Southern from $330.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Barclays increased their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Rothschild & Co Redburn raised their target price on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. UBS Group set a $327.00 price objective on shares of Norfolk Southern in a research report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their target price on Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $331.29.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.