Carnegie Investment Counsel Raises Holdings in Norfolk Southern Corporation $NSC

Key Points

• Carnegie Investment Counsel increased its Norfolk Southern stake by 5.7% in the first quarter, buying 6,807 more shares and bringing its total holdings to 125,768 shares valued at about $34.2 million.
• Norfolk Southern reported better-than-expected quarterly earnings of $2.65 per share, though revenue of $3.0 billion came in below analyst estimates. The company also posted a net margin of 21.91% and return on equity of 18.30%.
• Analyst sentiment remains mixed, with several firms raising price targets while maintaining mostly neutral ratings. The stock recently traded near its 52-week high, and the company also paid a quarterly dividend of $1.35 per share, equal to a 1.6% yield.

Carnegie Investment Counsel boosted its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,768 shares of the railroad operator's stock after buying an additional 6,807 shares during the period. Carnegie Investment Counsel owned approximately 0.06% of Norfolk Southern worth $34,159,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern during the third quarter worth $25,000. GoalVest Advisory LLC boosted its holdings in Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator's stock valued at $27,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. grew its position in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. BNP Paribas purchased a new stake in Norfolk Southern during the second quarter worth about $26,000. Finally, FNY Investment Advisers LLC lifted its position in shares of Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator's stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Norfolk Southern stock traded up $3.83 during mid-day trading on Friday, reaching $327.60. 636,072 shares of the company were exchanged, compared to its average volume of 981,612. The firm has a market cap of $73.58 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 6.03 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The firm's 50-day simple moving average is $313.03 and its two-hundred day simple moving average is $303.01. Norfolk Southern Corporation has a twelve month low of $257.49 and a twelve month high of $328.58.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the company posted $2.69 EPS. Norfolk Southern's revenue was up .2% compared to the same quarter last year. Equities analysts predict that Norfolk Southern Corporation will post 12.17 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, May 8th. Norfolk Southern's payout ratio is presently 45.49%.

Analysts Set New Price Targets

Several equities analysts have commented on NSC shares. BMO Capital Markets raised their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a "market perform" rating in a research report on Monday, April 27th. Citigroup upped their target price on shares of Norfolk Southern from $335.00 to $351.00 and gave the stock a "neutral" rating in a research note on Thursday. Wolfe Research increased their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. UBS Group set a $327.00 target price on Norfolk Southern in a report on Thursday, May 7th. Finally, Wells Fargo & Company raised their target price on Norfolk Southern from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $326.72.

Norfolk Southern News Roundup

Here are the key news stories impacting Norfolk Southern this week:

• Positive Sentiment: Robert W. Baird raised its price target on Norfolk Southern from $330 to $360, signaling more upside potential even though the firm kept a neutral rating. Benzinga report
• Positive Sentiment: Stephens upgraded Norfolk Southern to hold, a modestly more favorable stance that can support sentiment around the stock. Tickerreport.com article
• Neutral Sentiment: A Globe and Mail roundup noted that analyst views on Norfolk Southern are mixed, reinforcing that investors are balancing optimism on valuation with caution on near-term fundamentals. The Globe and Mail article
• Neutral Sentiment: JPMorgan lowered its price target from $331 to $316 and kept a neutral rating, suggesting limited upside from current levels and some pressure on sentiment. Benzinga report
• Negative Sentiment: Unusual options activity showed a surge in put buying, which can indicate that some traders are positioning for downside or hedging against short-term weakness. Options trading report

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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