Federated Hermes Inc. Has $180,000 Holdings in Norfolk Southern Co. (NYSE:NSC)

Federated Hermes Inc. decreased its stake in Norfolk Southern Co. (NYSE:NSC) by 39.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 761 shares of the railroad operator’s stock after selling 499 shares during the quarter. Federated Hermes Inc.’s holdings in Norfolk Southern were worth $180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Provence Wealth Management Group bought a new position in Norfolk Southern during the third quarter worth about $28,000. Exchange Traded Concepts LLC raised its position in shares of Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after purchasing an additional 106 shares during the period. Operose Advisors LLC bought a new position in shares of Norfolk Southern during the 3rd quarter valued at about $32,000. Orion Capital Management LLC acquired a new position in shares of Norfolk Southern in the 3rd quarter valued at approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Norfolk Southern during the 4th quarter worth approximately $32,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NSC shares. JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. BMO Capital Markets cut their price objective on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a research report on Monday, January 29th. Benchmark reiterated a “buy” rating and set a $277.00 target price on shares of Norfolk Southern in a report on Thursday, April 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $270.00 price target on shares of Norfolk Southern in a report on Wednesday, April 10th. Finally, Sanford C. Bernstein upgraded Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective for the company in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus price target of $262.32.

Norfolk Southern Trading Up 0.7 %

Norfolk Southern stock opened at $235.55 on Monday. The stock has a 50-day simple moving average of $249.71 and a 200 day simple moving average of $233.98. The stock has a market capitalization of $53.21 billion, a P/E ratio of 37.93, a PEG ratio of 3.30 and a beta of 1.30. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm posted $3.32 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. Analysts expect that Norfolk Southern Co. will post 11.62 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd 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 2.29%. The ex-dividend date of this dividend is Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Norfolk Southern 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.