Norfolk Southern Corporation $NSC Shares Sold by Sona Asset Management US LLC

Sona Asset Management US LLC lessened its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 84.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 69,083 shares of the railroad operator’s stock after selling 375,164 shares during the quarter. Norfolk Southern makes up about 0.4% of Sona Asset Management US LLC’s investment portfolio, making the stock its 28th biggest position. Sona Asset Management US LLC’s holdings in Norfolk Southern were worth $19,827,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NSC. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter valued at $25,000. BNP Paribas purchased a new stake in Norfolk Southern in the second quarter valued at $26,000. Meeder Asset Management Inc. lifted its position in Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after acquiring an additional 67 shares during the last quarter. Financial Life Planners purchased a new stake in Norfolk Southern in the first quarter valued at $33,000. Finally, Bayban acquired a new position in Norfolk Southern in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.3%

Shares of Norfolk Southern stock opened at $351.69 on Monday. Norfolk Southern Corporation has a 52-week low of $268.23 and a 52-week high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The company’s 50-day simple moving average is $317.37 and its 200-day simple moving average is $306.29. The firm has a market cap of $78.99 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 6.32 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 12.42 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s dividend payout ratio is 46.08%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group dropped their price objective on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Citigroup boosted their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets raised their price target on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Finally, Wolfe Research lifted their price target on Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Seven investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $344.35.

Norfolk Southern News Roundup

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

• Positive Sentiment: Norfolk Southern beat Q2 expectations, posting $3.52 in EPS and revenue above estimates, with revenue up 12.5% year over year and record quarterly sales. Reuters article
• Positive Sentiment: Wells Fargo raised its price target to $385 and reiterated an overweight rating, signaling confidence that the stock still has room to run. Benzinga article
• Positive Sentiment: Citigroup lifted its target to $376, reflecting a more constructive view after the earnings release, even though it kept a neutral rating. Benzinga article
• Neutral Sentiment: JPMorgan raised its target to $338 but maintained a neutral rating, suggesting valuation looks less compelling after the recent move higher. Benzinga article
• Neutral Sentiment: Some commentary noted lower profitability and margin pressure despite the revenue beat, which may temper enthusiasm if cost pressures persist. Seeking Alpha article
• Negative Sentiment: Profitability was held back by higher fuel costs and lower efficiency, showing that cost inflation remains a headwind even as demand improves. TipRanks article

Norfolk Southern Company Profile

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.