Empowered Funds LLC Raises Holdings in Norfolk Southern Corporation $NSC

Key Points

• Empowered Funds LLC increased its holdings in Norfolk Southern Corporation by 9.3%, bringing its total ownership to 18,189 shares valued at $4.3 million.
• Major institutional investors like Vanguard Group and Price T Rowe Associates also increased their stakes in Norfolk Southern, highlighting significant interest in the stock.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, reflecting a 2.0% yield, and reported an earnings per share (EPS) of $3.29, surpassing estimates.

Empowered Funds LLC boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,189 shares of the railroad operator's stock after buying an additional 1,555 shares during the quarter. Empowered Funds LLC's holdings in Norfolk Southern were worth $4,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Norfolk Southern by 1.2% during the first quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator's stock valued at $4,813,114,000 after buying an additional 232,195 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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. Boston Partners grew its holdings in shares of Norfolk Southern by 3.4% during the first quarter. Boston Partners now owns 4,159,070 shares of the railroad operator's stock valued at $983,161,000 after buying an additional 138,678 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Norfolk Southern by 0.7% during the first quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator's stock valued at $947,006,000 after purchasing an additional 29,753 shares during the period. Finally, American Century Companies Inc. lifted its position in Norfolk Southern by 6.4% during the first quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator's stock valued at $740,891,000 after purchasing an additional 189,076 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of research reports. Susquehanna restated a "neutral" rating and set a $260.00 target price (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Bank of America boosted their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group reissued a "hold" rating and set a $300.00 target price on shares of Norfolk Southern in a research note on Friday, July 25th. Royal Bank Of Canada cut shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 price objective on shares of Norfolk Southern in a research note on Monday, June 2nd. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $285.15.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $274.90 on Friday. The firm's 50 day moving average price is $276.13 and its 200-day moving average price is $250.29. 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 Corporation has a one year low of $201.63 and a one year high of $291.69. The firm has a market cap of $61.75 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.43 and a beta of 1.29.

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 the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates 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 predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

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

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.

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.