Adage Capital Partners GP L.L.C. Buys 611,198 Shares of Norfolk Southern Corporation $NSC

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Norfolk Southern Corporation by 341.9% in the first quarter, owning approximately 0.35% of the company worth $187.1 million.
• Norfolk Southern reported earnings of $3.29 per share, surpassing estimates, with a net margin of 27.51% and a revenue of $3.11 billion for the quarter.
• The company recently declared a quarterly dividend of $1.35 per share, representing an annualized dividend yield of 1.9%.

Adage Capital Partners GP L.L.C. grew its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 341.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 789,950 shares of the railroad operator's stock after acquiring an additional 611,198 shares during the period. Adage Capital Partners GP L.L.C. owned 0.35% of Norfolk Southern worth $187,100,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. EP Wealth Advisors LLC raised its stake in shares of Norfolk Southern by 4.8% in the first quarter. EP Wealth Advisors LLC now owns 7,738 shares of the railroad operator's stock valued at $1,833,000 after acquiring an additional 357 shares during the last quarter. GW Henssler & Associates Ltd. raised its stake in shares of Norfolk Southern by 22.6% in the first quarter. GW Henssler & Associates Ltd. now owns 2,118 shares of the railroad operator's stock valued at $502,000 after acquiring an additional 390 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its stake in shares of Norfolk Southern by 50.3% in the first quarter. Focus Partners Advisor Solutions LLC now owns 2,301 shares of the railroad operator's stock valued at $545,000 after acquiring an additional 770 shares during the last quarter. Flputnam Investment Management Co. raised its stake in shares of Norfolk Southern by 10.6% in the first quarter. Flputnam Investment Management Co. now owns 13,577 shares of the railroad operator's stock valued at $3,216,000 after acquiring an additional 1,300 shares during the last quarter. Finally, ICW Investment Advisors LLC raised its position in Norfolk Southern by 2.0% in the 1st quarter. ICW Investment Advisors LLC now owns 2,993 shares of the railroad operator's stock worth $709,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Bank of America boosted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Royal Bank Of Canada cut shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Barclays upped their target price on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Benchmark cut shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $285.15.

Norfolk Southern Stock Performance

Shares of NSC stock traded down $2.23 on Friday, reaching $277.53. The stock had a trading volume of 1,302,006 shares, compared to its average volume of 1,896,946. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The firm's 50-day moving average is $274.85 and its two-hundred day moving average is $249.36. The firm has a market capitalization of $62.34 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 2.48 and a beta of 1.29. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $291.69.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Norfolk Southern has set its FY 2025 guidance at EPS. On average, research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend 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.