Horizon Bancorp Inc. IN Sells 40 Shares of Norfolk Southern Corporation $NSC

Horizon Bancorp Inc. IN trimmed its position in Norfolk Southern Corporation (NYSE:NSC) by 4.0% during the second quarter, HoldingsChannel.com reports. The fund owned 949 shares of the railroad operator’s stock after selling 40 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Norfolk Southern were worth $243,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC increased its stake in Norfolk Southern by 1.7% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator’s stock valued at $622,000 after buying an additional 40 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in Norfolk Southern by 30.5% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock valued at $47,000 after buying an additional 43 shares during the last quarter. Canandaigua National Trust Co of Florida increased its stake in Norfolk Southern by 4.9% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator’s stock valued at $226,000 after buying an additional 45 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in shares of Norfolk Southern by 1.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator’s stock valued at $605,000 after acquiring an additional 45 shares during the period. Finally, LexAurum Advisors LLC grew its position in shares of Norfolk Southern by 3.3% during the 2nd quarter. LexAurum Advisors LLC now owns 1,453 shares of the railroad operator’s stock valued at $372,000 after acquiring an additional 46 shares during the period. 75.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NSC shares. JPMorgan Chase & Co. increased their target price on shares of Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a research report on Wednesday. Evercore ISI increased their target price on shares of Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Citigroup increased their target price on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Loop Capital increased their target price on shares of Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research report on Tuesday, September 16th. Finally, Benchmark downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $293.25.

Norfolk Southern Stock Down 0.7%

Norfolk Southern stock opened at $294.68 on Friday. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The firm has a market capitalization of $66.19 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 2.66 and a beta of 1.33. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The firm has a 50 day simple moving average of $283.93 and a 200 day simple moving average of $257.53.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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