Central Pacific Bank Trust Division Has $4.41 Million Holdings in Norfolk Southern Corporation $NSC

Key Points

• Central Pacific Bank Trust Division increased its stake in Norfolk Southern Corporation by 20.4%, holding shares worth approximately $4.41 million as of the latest SEC filing.
• Norfolk Southern reported $3.29 earnings per share for its last quarter, exceeding expectations and contributing to a revenue of $3.11 billion.
• The company declared a quarterly dividend of $1.35 per share, equating to an annualized dividend of $5.40 and a 2.0% dividend yield.

Central Pacific Bank Trust Division increased its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,245 shares of the railroad operator's stock after buying an additional 2,916 shares during the quarter. Central Pacific Bank Trust Division's holdings in Norfolk Southern were worth $4,414,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NSC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Norfolk Southern by 31.5% in the 1st 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 boosted its holdings in shares of Norfolk Southern by 25,555.7% in the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock valued at $234,433,000 after buying an additional 985,938 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Norfolk Southern by 341.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator's stock valued at $187,100,000 after buying an additional 611,198 shares during the last quarter. Nuveen LLC bought a new stake in Norfolk Southern in the 1st quarter valued at $122,256,000. Finally, Phoenix Financial Ltd. bought a new stake in Norfolk Southern in the 1st quarter valued at $110,209,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Up 0.3%

NSC stock opened at $274.90 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. The stock has a market capitalization 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 business's fifty day moving average price is $276.13 and its two-hundred day moving average price is $250.29. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $291.69.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations 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, equities analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NSC shares. Evercore ISI restated an "in-line" rating and issued a $289.00 price target (up previously from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Royal Bank Of Canada cut Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Barclays increased their price target on Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Benchmark cut Norfolk Southern from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $285.15.

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.