Federated Hermes Inc. Has $1.29 Million Stake in Norfolk Southern Corporation $NSC

Federated Hermes Inc. raised its stake in Norfolk Southern Corporation (NYSE:NSC) by 411.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,290 shares of the railroad operator’s stock after acquiring an additional 3,451 shares during the period. Federated Hermes Inc.’s holdings in Norfolk Southern were worth $1,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of 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 purchasing an additional 79 shares in the last quarter. Intech Investment Management LLC grew its stake in Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after buying an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Norfolk Southern during the second quarter worth about $327,000. Wealthcare Advisory Partners LLC increased its holdings in shares of Norfolk Southern by 6.8% during the second quarter. Wealthcare Advisory Partners LLC now owns 2,563 shares of the railroad operator’s stock worth $656,000 after buying an additional 164 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $205,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $306.96 on Friday. The company has a market capitalization of $68.88 billion, a P/E ratio of 24.08, a P/E/G ratio of 5.46 and a beta of 1.34. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $309.21. The business has a 50 day moving average of $291.40 and a 200-day moving average of $286.61.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping the consensus estimate of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the business earned $3.04 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, February 6th. Norfolk Southern’s dividend payout ratio is presently 42.35%.

Insider Activity

In other news, EVP Anil Bhatt sold 900 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. This represents a 38.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Jr. Clyburn acquired 204 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were purchased at an average price of $294.79 per share, with a total value of $60,137.16. Following the acquisition, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. This represents a 101.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of research analyst reports. Barclays cut their price target on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 30th. UBS Group lowered their price objective on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Sanford C. Bernstein lowered their price target on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Finally, Robert W. Baird decreased their price target on shares of Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Norfolk Southern currently has an average rating of “Hold” and a consensus price target of $303.32.

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.