Brasada Capital Management LP Sells 3,289 Shares of Norfolk Southern Corporation $NSC

Key Points

• Brasada Capital Management LP reduced its stake in Norfolk Southern Corporation by 44.9% in the first quarter, now holding 4,043 shares valued at approximately $958,000.
• Norfolk Southern reported quarterly earnings of $3.29 per share, exceeding analysts' expectations, with a revenue of $3.11 billion for the quarter.
• The company announced a quarterly dividend of $1.35 per share, resulting in an annualized yield of 1.9%.

Brasada Capital Management LP trimmed its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 44.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,043 shares of the railroad operator's stock after selling 3,289 shares during the period. Brasada Capital Management LP's holdings in Norfolk Southern were worth $958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Norfolk Southern by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator's stock valued at $2,680,910,000 after buying an additional 2,710,930 shares during the last quarter. GAMMA Investing LLC increased its stake in Norfolk Southern by 25,555.7% in the first quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock valued at $234,433,000 after acquiring an additional 985,938 shares during the last quarter. Nuveen LLC purchased a new stake in Norfolk Southern during the first quarter valued at about $122,256,000. Phoenix Financial Ltd. purchased a new position in Norfolk Southern during the 1st quarter valued at about $110,209,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in shares of Norfolk Southern by 91.3% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 616,384 shares of the railroad operator's stock valued at $145,991,000 after buying an additional 294,182 shares during the period. Institutional investors own 75.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NSC. Baird R W upgraded shares of Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. Sanford C. Bernstein lifted their price target on Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. TD Cowen upgraded shares of Norfolk Southern from a "hold" rating to a "buy" rating and increased their target price for the company from $263.00 to $323.00 in a research report on Monday, July 21st. Benchmark downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Evercore ISI restated an "in-line" rating and set a $289.00 price objective (up previously from $279.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of "Hold" and a consensus target price of $285.15.

Norfolk Southern Stock Down 0.1%

NYSE:NSC traded down $0.33 on Wednesday, reaching $277.92. The stock had a trading volume of 1,488,051 shares, compared to its average volume of 1,608,526. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $291.69. The company has a 50-day moving average of $273.48 and a 200 day moving average of $248.86. 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 stock has a market cap of $62.43 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued 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. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. Norfolk Southern has set its FY 2025 guidance at EPS. On average, research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Friday, August 1st were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's payout ratio is presently 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.