Almanack Investment Partners LLC. Takes $872,000 Position in Norfolk Southern Corporation $NSC

Key Points

• Almanack Investment Partners LLC has purchased a new stake in Norfolk Southern Corporation, acquiring 3,408 shares valued at approximately $872,000 during the second quarter.
• Institutional investors own about 75.10% of Norfolk Southern's stock, with several entities like SeaCrest Wealth Management and Pinnacle Bancorp Inc. increasing their holdings.
• Analysts have raised their price targets for Norfolk Southern, with recent estimates ranging from $295.00 to $354.00, suggesting a generally positive outlook on the stock's performance.

Almanack Investment Partners LLC. bought a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,408 shares of the railroad operator's stock, valued at approximately $872,000.

A number of other institutional investors have also modified their holdings of NSC. SeaCrest Wealth Management LLC lifted its position in shares of 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 acquiring an additional 40 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in shares of 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 acquiring an additional 43 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its position in shares of 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 acquiring an additional 45 shares in the last quarter. Capital Investment Advisory Services LLC lifted its position in shares of Norfolk Southern by 1.8% in 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 in the last quarter. Finally, LexAurum Advisors LLC lifted its position in shares of Norfolk Southern by 3.3% in 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 in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NSC shares. Susquehanna upped their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. Sanford C. Bernstein upped their price target on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Jefferies Financial Group restated a "hold" rating and issued a $300.00 price target on shares of Norfolk Southern in a research report on Friday, July 25th. Royal Bank Of Canada downgraded shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Norfolk Southern from $290.00 to $354.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $293.25.

Norfolk Southern Stock Down 2.2%

NSC stock opened at $288.34 on Monday. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. 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 company has a market cap of $64.77 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.59 and a beta of 1.33. The company has a 50 day moving average of $284.20 and a two-hundred day moving average of $258.21.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate 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, equities analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a dividend of $1.35 per share. The ex-dividend date was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. Norfolk Southern's dividend payout ratio (DPR) 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.

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