Baxter Bros Inc. Lowers Stock Holdings in Norfolk Southern Corporation $NSC

Key Points

• Baxter Bros Inc. has reduced its stake in Norfolk Southern Corporation by 4.4%, selling 875 shares, leaving them with a total of 18,982 shares valued at approximately $4.86 million.
• Norfolk Southern reported earnings of $3.29 per share for the last quarter, exceeding analysts' expectations of $3.24, and had a revenue of $3.11 billion.
• The company recently paid a quarterly dividend of $1.35 per share, translating to an annualized yield of 1.8% based on a payout ratio of 36.49%.

Baxter Bros Inc. reduced its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,982 shares of the railroad operator's stock after selling 875 shares during the period. Baxter Bros Inc.'s holdings in Norfolk Southern were worth $4,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NSC. WPG Advisers LLC purchased a new stake in Norfolk Southern in the 1st quarter worth approximately $27,000. HWG Holdings LP purchased a new stake in Norfolk Southern in the 1st quarter worth approximately $35,000. Physician Wealth Advisors Inc. grew its stake in Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after acquiring an additional 84 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of Norfolk Southern during the 1st quarter valued at $41,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after buying an additional 159 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NYSE:NSC opened at $296.70 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $66.64 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.65 and a beta of 1.33. The firm's fifty day simple moving average is $283.60 and its 200 day simple moving average is $257.12. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24.

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

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were issued a $1.35 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern's payout ratio is currently 36.49%.

Analysts Set New Price Targets

NSC has been the subject of several research reports. Jefferies Financial Group reissued a "hold" rating and set a $300.00 price objective on shares of Norfolk Southern in a research note on Friday, July 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Norfolk Southern in a research note on Wednesday. Baird R W raised shares of Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Norfolk Southern from $290.00 to $354.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $288.00 to $303.00 and gave the company a "neutral" rating in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat, Norfolk Southern has a consensus rating of "Hold" and an average price target of $293.25.

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.

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