Ascent Group LLC Has $1.24 Million Stock Position in Norfolk Southern Corporation $NSC

Key Points

• Ascent Group LLC increased its holdings in Norfolk Southern Corporation by 32.0%, acquiring an additional 1,263 shares and bringing its total to 5,213 shares valued at approximately $1.23 million.
• Several research firms have raised their price targets for Norfolk Southern, with a general consensus rating of "Hold" and a target price averaging $285.15.
• Norfolk Southern recently declared a quarterly dividend of $1.35 per share, resulting in an annualized dividend yield of 2.0% and reflecting a dividend payout ratio of 36.49%.

Ascent Group LLC boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,213 shares of the railroad operator's stock after purchasing an additional 1,263 shares during the quarter. Ascent Group LLC's holdings in Norfolk Southern were worth $1,235,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NSC. Brighton Jones LLC boosted its stake in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after purchasing an additional 79 shares during the period. Ensign Peak Advisors Inc boosted its stake in Norfolk Southern by 1.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 39,143 shares of the railroad operator's stock valued at $9,187,000 after purchasing an additional 431 shares during the period. Gotham Asset Management LLC boosted its stake in Norfolk Southern by 77.8% during the 4th quarter. Gotham Asset Management LLC now owns 5,356 shares of the railroad operator's stock valued at $1,257,000 after purchasing an additional 2,343 shares during the period. Jefferies Financial Group Inc. acquired a new position in Norfolk Southern in the 4th quarter valued at approximately $2,843,000. Finally, Meketa Capital LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $360,000. Institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of research reports. Barclays raised their price objective on Norfolk Southern from $290.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Citigroup raised their price objective on Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Bank of America raised their price objective on Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Susquehanna reiterated a "neutral" rating and issued a $260.00 price objective (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Finally, UBS Group raised their price objective on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern has an average rating of "Hold" and an average price target of $285.15.

Norfolk Southern Price Performance

NSC stock traded up $0.90 during midday trading on Friday, reaching $274.90. 2,243,787 shares of the company's stock traded hands, compared to its average volume of 1,923,360. The company has a 50-day simple moving average of $276.13 and a two-hundred day simple moving average of $250.29. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $291.69. The company has a market cap of $61.75 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 2.43 and a beta of 1.29. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, analysts anticipate 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 was paid on Wednesday, August 20th. Investors of record on Friday, August 1st were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is currently 36.49%.

About Norfolk Southern

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.