Federated Hermes Inc. Decreases Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Federated Hermes Inc. trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC) by 15.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 583 shares of the railroad operator’s stock after selling 110 shares during the quarter. Federated Hermes Inc.’s holdings in Norfolk Southern were worth $125,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of Tennessee Treasury Department boosted its holdings in shares of Norfolk Southern by 209.3% in the fourth quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock worth $26,454,000 after buying an additional 75,729 shares during the last quarter. Catalytic Wealth RIA LLC bought a new stake in Norfolk Southern in the 4th quarter valued at $608,000. Manning & Napier Advisors LLC bought a new position in Norfolk Southern during the second quarter valued at approximately $13,627,000. Buckingham Strategic Wealth LLC increased its position in Norfolk Southern by 7.0% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock worth $22,783,000 after purchasing an additional 6,306 shares during the last quarter. Finally, Broderick Brian C bought a new stake in shares of Norfolk Southern in the 1st quarter worth about $956,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 1.5 %

NSC opened at $243.30 on Thursday. The firm has a 50-day moving average price of $244.12 and a two-hundred day moving average price of $237.58. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $54.96 billion, a PE ratio of 39.22, a PEG ratio of 2.40 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the company earned $2.95 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insiders Place Their Bets

In related news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NSC. Wells Fargo & Company increased their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Stifel Nicolaus upped their target price on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Sanford C. Bernstein lowered their target price on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. Finally, TD Cowen raised their price objective on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $264.89.

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.