Cbre Investment Management Listed Real Assets LLC Has $145.99 Million Stock Position in Norfolk Southern Corporation $NSC

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in Norfolk Southern Corporation by 91.3%, acquiring an additional 294,182 shares, which now represent about 2.2% of its total holdings.
• Norfolk Southern announced a quarterly dividend of $1.35, which was paid to stockholders of record and signifies an annualized dividend yield of 1.9%.
• Several analysts have revised their target prices for Norfolk Southern, with Barclays increasing it to $300 and Citigroup to $305, reflecting positive sentiment and an average target price consensus of $285.15.

Cbre Investment Management Listed Real Assets LLC increased its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 91.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 616,384 shares of the railroad operator's stock after purchasing an additional 294,182 shares during the quarter. Norfolk Southern accounts for 2.2% of Cbre Investment Management Listed Real Assets LLC's investment portfolio, making the stock its 10th biggest position. Cbre Investment Management Listed Real Assets LLC owned 0.27% of Norfolk Southern worth $145,991,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC increased its position in shares of Norfolk Southern by 883.3% during the first 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. Dynamic Advisor Solutions LLC grew its holdings in Norfolk Southern by 1.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock worth $846,000 after purchasing an additional 65 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Norfolk Southern by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock worth $16,925,000 after purchasing an additional 2,782 shares during the period. GAMMA Investing LLC grew its holdings in Norfolk Southern by 8.3% in the first quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock worth $990,000 after purchasing an additional 321 shares during the period. Finally, Brevan Howard Capital Management LP grew its holdings in Norfolk Southern by 472.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 43,054 shares of the railroad operator's stock worth $10,105,000 after purchasing an additional 35,531 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Analyst Ratings Changes

NSC has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Citigroup upped their price objective on shares of Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $288.00 price target (up previously from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Bank of America increased their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Evercore ISI reiterated an "in-line" rating and set a $289.00 price target (up previously from $279.00) on shares of Norfolk Southern in a 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, the stock currently has an average rating of "Hold" and a consensus target price of $285.15.

Norfolk Southern Price Performance

Shares of NYSE:NSC traded down $4.29 on Wednesday, reaching $272.38. The company's stock had a trading volume of 2,525,302 shares, compared to its average volume of 1,600,109. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $291.69. The company has a market cap of $61.18 billion, a P/E ratio of 18.40, a PEG ratio of 2.46 and a beta of 1.31. The company has a 50-day simple moving average of $271.16 and a 200 day simple moving average of $248.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The business had revenue of $3.11 billion during the quarter, compared to analysts' expectations 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. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is 36.49%.

Norfolk Southern 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.