Fintel reports that on October 9, 2024, Citigroup initiated coverage of Norfolk Southern (NYSE:NSC) with a Buy recommendation.
Analyst Price Forecast Suggests 9.39% Upside
As of September 25, 2024, the average one-year price target for Norfolk Southern is $268.22/share. The forecasts range from a low of $176.75 to a high of $306.60. The average price target represents an increase of 9.39% from its latest reported closing price of $245.21 / share.
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The projected annual revenue for Norfolk Southern is 13,190MM, an increase of 9.08%. The projected annual non-GAAP EPS is 15.47.
What is the Fund Sentiment?
There are 2,322 funds or institutions reporting positions in Norfolk Southern. This is an decrease of 76 owner(s) or 3.17% in the last quarter. Average portfolio weight of all funds dedicated to NSC is 0.27%, an increase of 7.52%. Total shares owned by institutions increased in the last three months by 2.76% to 202,251K shares. 
The put/call ratio of NSC is 0.65, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 10,795K shares representing 4.77% ownership of the company. In its prior filing, the firm reported owning 8,125K shares , representing an increase of 24.73%. The firm increased its portfolio allocation in NSC by 15.78% over the last quarter.
Jpmorgan Chase holds 7,729K shares representing 3.42% ownership of the company. In its prior filing, the firm reported owning 9,225K shares , representing a decrease of 19.35%. The firm decreased its portfolio allocation in NSC by 31.46% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,134K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 7,101K shares , representing an increase of 0.46%. The firm decreased its portfolio allocation in NSC by 17.71% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 6,974K shares representing 3.08% ownership of the company. In its prior filing, the firm reported owning 5,202K shares , representing an increase of 25.40%. The firm increased its portfolio allocation in NSC by 13.52% over the last quarter.
Lazard Asset Management holds 6,308K shares representing 2.79% ownership of the company. In its prior filing, the firm reported owning 5,599K shares , representing an increase of 11.25%. The firm decreased its portfolio allocation in NSC by 2.06% over the last quarter.
Norfolk Southern Background Information
(This description is provided by the company.)
Norfolk Southern Corporation is one of the nation's premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 19,300 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern is a major transporter of industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials. In addition, the railroad operates the most extensive intermodal network in the East and is a principal carrier of coal, automobiles, and automotive parts.
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